Canada needs sustained business investment -Bank of Canada

WINNIPEG, Manitoba, Oct 4 (Reuters) - Canadian business must boost investment in machinery and equipment to help workers become as productive as their U.S. counterparts, a top Bank of Canada official said on Thursday.

Tiff Macklem, senior deputy governor at the Bank of Canada, noted that Canadian business investment fell sharply during the 2009 recession and has recovered very slowly.

"This points to the fact that we need a sustained investment boom in this country," he said in response to a question following a speech in Winnipeg, Manitoba. "We have a lot of ground to catch up. It's been solid, it hasn't been spectacular. It needs to be better than solid and it needs to be sustained."

(Reporting by Rod Nickel; Editing by Peter Galloway)

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