Fireside Chat – Stephen S. Poloz, Governor

Fireside Chat – Stephen S. Poloz, Governor

Introduction Good morning, everyone, and happy new year. It is great to be here in Vancouver for the Board of Trade’s Economic Outlook Forum. This part of the event has been billed as a fireside chat. And, while I am happy to share the Bank of Canada’s observations on the economic outlook, I very much […]

Inflation-target renewal, impact of technology highlight Bank of Canada’s 2020 work plan, Governor Poloz says

Inflation-target renewal, impact of technology highlight Bank of Canada’s 2020 work plan, Governor Poloz says

Work toward renewing Canada’s inflation-targeting framework and understanding the impact of digital technology highlight a packed agenda for the Bank of Canada in 2020, Governor Stephen S. Poloz said today. In a speech to the Empire Club, Governor Poloz outlined what Canada’s central bank is doing given the major forces that will continue to affect […]

Bank of Canada Governor Stephen S. Poloz to step down in June 2020

Bank of Canada Governor Stephen S. Poloz to step down in June 2020

The Board of Directors of the Bank of Canada announced today that Governor Stephen S. Poloz has informed them that he will not seek a second term as Governor when his seven-year term expires on June 2, 2020. The Board has begun a search process to select the next Governor of the Bank.  “It has […]

Poloz talks mortgages: Innovation could improve flexibility

Poloz talks mortgages: Innovation could improve flexibility

Mortgage market flexibility could improve choices While financial institutions have added new ways to sell home loans and give Canadians access to home equity, the actual mortgage product itself hasn’t changed much over time. Given how different regional housing markets are, it is worth looking to see if our mortgage market could increase the ability […]

Canada’s export sector shows promise in a challenging environment, Governor Poloz says

Canada’s export sector shows promise in a challenging environment, Governor Poloz says

Canada’s economy can build on its traditional strengths by taking advantage of export opportunities in rapidly growing service sectors to overcome the current challenging environment, Bank of Canada Governor Stephen S. Poloz said today. Trade and business investment slowed late last year across the global economy amid the U.S.-led trade war, Governor Poloz said in […]

Poloz talks trade: Canada’s services a bright spot

Poloz talks trade: Canada’s services a bright spot

But in Canada, the trade in services is growing Trade in services has been growing at a much faster pace than goods. Last year, many service sectors saw exports growing at near double-digit rates or faster, including: financial services tourism telecom, computer and information intellectual property Growth in Canada’s economy, which was based on trade […]

History demonstrates the power and limitations of monetary policy, Governor Poloz says

History demonstrates the power and limitations of monetary policy, Governor Poloz says

Monetary policy has proven to be a powerful instrument to control inflation and promote Canada’s economic welfare, subject to a number of limitations, Bank of Canada Governor Stephen S. Poloz said today. Under Canada’s inflation-targeting framework, economic cycles have become less severe, unemployment is lower and the economy adjusts more quickly to shocks, Governor Poloz […]

Governor Poloz Speaks on Financial Vulnerabilities and Risks to the Economy

Governor Poloz Speaks on Financial Vulnerabilities and Risks to the Economy

In his final speech of 2018, Governor Stephen S. Poloz discusses the vulnerabilities and risks in Canada’s financial system as well as Canadian and global economic developments. He explains how all this was taken into account in the December interest rate decision. [embedded content] Interest Rate Decision Governing Council decided to maintain the interest rate […]

Making sense of financial markets worth the effort, Governor Poloz says

Making sense of financial markets worth the effort, Governor Poloz says

It can be a challenge for central banks to reconcile their views of the economy with signals from financial markets, but the effort is worthwhile, Bank of Canada Governor Stephen S. Poloz said in a speech today. Differences between financial market action and a central bank economic forecast can often be reconciled with time, […]

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