Poloz spawns negative headlines on interest rates: Don Pittis

Economics | 207024 hits | Dec 09 7:38 am | Posted by: andyt

Central bank governor Stephen Poloz's remarks about negative interest rates got the world's attention, sending signals of a crumbling Canadian economy. Despite plunging oil and a falling loonie, the message may be exactly the opposite of the good news sto

Comments

by andyt
Wed Dec 09, 2015 3:40 pm
Yesterday's speech was clearly meant to be upbeat. Of course the commodities crash is hurting the Canadian economy. We've been through it before, said Poloz. While falling oil has an immediate effect on the economy, the rebound of the non-commodity economy is inevitably slower.

As the bank has shown, spurred by a falling loonie those non-commodity exports have already begun to surge. But in the wider economic statistics the growth will be camouflaged by the plunge in resources spending at least until later in 2016.

Meanwhile, said Poloz, falling energy prices are good for the global economy. And a stronger global economy is exactly what Canada needs to help its exports grow.

But the guy certainly doesn't seem to have the Mark Carney touch, he needs some pr help.

view comments in forum

Page 1

You need to be a member of CKA and be logged into the site, to comment on news.

Share

All logos and trademarks in this site are property of their respective owner.
The comments are property of their posters, all the rest © 2025 by Canadaka.net