WASHINGTON, June 16: Canada’s economic outlook is “broadly favourable,” with growth likely to remain around the country’s potential and inflation subdued, the International Monetary Fund said on Friday.In a report following annual consultations with Canadian officials, the IMF offered praise for Ottawa’s economic management, saying Canada has been able to sustain a moderate pace of growth and keep inflation contained amid a boom in commodity prices.

The IMF is projecting 3.1pc growth in Canada this year and 3pc expansion in 2007, a moderate pace that sustains expansion without sparking too much inflationary pressure.—AFP