BoC's Poloz Says Global Monetary Stimulus Is Reaching its Limit
- Fiscal, structural changes may be needed to bolster growth
- Bank of Canada Governor speaks to lawmakers in Ottawa
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Bank of Canada Governor Stephen Poloz said he’s still wary about the risks to a global economy that is in need of a more balanced set of tools to cement growth.
With monetary policy at about the limits of its effectiveness, fiscal and structural reforms may now be needed to bolster the world’s recovery, Poloz said Tuesday to lawmakers at a parliamentary hearing in Ottawa. A renewed push to expand free-trade agreements may be one method of helping Canada rebound from the “massive” shock of low commodity prices, he said.