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OTTAWA — It’s the Bank of Canada’s turn to weigh in on the country’s economy.

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The Liberal government could still meet its budget targets if oil prices fall to US$25 a barrel this year and Canada’s economy only grows by one per cent.

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Monetary policy officials have remained on the sidelines since the election in October of a new federal government — one that campaigned on the need for fiscal muscle to lift the economy and get more Canadians working.

Last week’s Liberal budget offered tens of billions of dollars a year in stimulus spending — and deficits — until the next national vote four years down the road.

The Bank of Canada now has Ottawa’s economic forecasts and stimulus plans in hand, and governor Stephen Poloz and his policy counsel are beginning to incorporate them into their own domestic outlook and how that will translate into the central bank’s next interest rates decision April 13.