Demographic forces and the hangover from the global financial crisis together are putting limits on economic growth, Bank of Canada governor Stephen Poloz said in a speech yesterday.

"A period of subdued growth after a financial crisis can still be regarded as cyclical," Poloz said. "But the global economy may not be just suffering through a hangover from the financial crisis. There are other, longer-term forces at work as well."

Poloz described these factors as separate but working together. On