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Outlook still uncertain despite positive data, says Bank of Canada’s governor
– canadianbusiness.com
The head of the Bank of Canada says he is still keeping a close eye on risks to the economy even after a string of healthier-than-expected numbers.
The remarks by Governor Stephen Poloz on Tuesday followed a speech in Oshawa, Ont., where he made the case for a policy mix frequently promoted by the federal government _ an openness to more foreign investment, immigration and free trade.
He was asked about an encouraging data run in recent months for growth, trade and the labour market _ and whether they had altered the central bank’s thinking ahead of its April 12 policy decision.
“It would be odd to forget about all those downside risks just because a couple of data points came in a little bit better than expected,” Poloz told reporters at Durham College in his hometown east of Toronto.
“We’ve had positive data points in the last three years, too _ and they didn’t last. So, we’re being very cautious in that outlook.”
In January, Poloz said the door was open to a possible interest-rate cut because of the unknowns surrounding the U…
The remarks by Governor Stephen Poloz on Tuesday followed a speech in Oshawa, Ont., where he made the case for a policy mix frequently promoted by the federal government _ an openness to more foreign investment, immigration and free trade.
He was asked about an encouraging data run in recent months for growth, trade and the labour market _ and whether they had altered the central bank’s thinking ahead of its April 12 policy decision.
“It would be odd to forget about all those downside risks just because a couple of data points came in a little bit better than expected,” Poloz told reporters at Durham College in his hometown east of Toronto.
“We’ve had positive data points in the last three years, too _ and they didn’t last. So, we’re being very cautious in that outlook.”
In January, Poloz said the door was open to a possible interest-rate cut because of the unknowns surrounding the U…
