Poloz warns of policy divergence

The governor of the Bank of Canada said Thursday that monetary policy would change as necessary in line with global conditions. Stephen Poloz warned that as resource prices continue to decline the trends established in Canada over the past decade are being reversed. However, he said that the policy-makers have “a number of tools at our disposal—both conventional and unconventional—to mitigate risks to our inflation target or to our financial system, should they arise.” While US interest rates have begun rising analysts believe it is more likely that the BoC will make a further cut in 2016.

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