Economics
Poloz Sticks to His Guns and Traders Mull Odds of Policy Error
- Bank of Canada says interest rate increases are still needed
- Analysts say past hikes may have already gone too far
Bank of Canada Governor Stephen Poloz.
Photographer: Justin Tang/BloombergThis article is for subscribers only.
The Bank of Canada’s insistence that more interest rate increases are still needed has strategists fretting about policy mistakes.
Governor Stephen Poloz, speaking Wednesday in Ottawa, stuck to his view that further hikes could still be in store on the basis that an expected slowdown in economic growth, driven by slumping oil prices, will only be temporary.