The faster the economy of oil-rich Canada adjusts to slower growth, the more secure the situation will be, a senior central bank official said Wednesday. “We have to adapt to the new reality of lower potential growth,” Bank of Canada Senior Deputy Gov. Carolyn Wilkin said in a statement from in London. “The faster we do this, the safer the financial system will be.” By her estimate, the potential growth rate for the global economy, measured in terms of gross domestic product, fell from 5 percent in 2005 to 3 percent this year. That represents about $1.5 trillion in lost output this year. For Canada, the bank said national GDP was pulled down in the second quarter by May wildfires in […]