Third – and this will sound like a less desirable part of the process – a lower Canadian dollar raises the price of imported goods for everyone. This spreads the impact of the loss of income across the entire economy, rather than leaving it just in the commodity-producing sector.
BIS central bankers’ speeches  3  Even so, there are large regional and sectoral differences in Canada’s economy – with the resource-producing regions taking a much harder hit. The exchange rate can’t absorb the shock in its entirety for any one sector or region, so those underlying adjustments will continue for some time.