Bank of Canada Governor Stephen Poloz expressed guarded optimism on Monday that ...
IQALUIT, Nunavut - Bank of Canada Governor Stephen Poloz expressed guarded optimism on Monday that the country would emerge from a soft patch, but maintained a cautious tone overall, saying the economic outlook still warrants an interest rate below the neutral range.
Even so, Poloz said there are clear signs that Canada is adjusting, with the central bank seeing many areas of encouraging economic growth. “There was no food for those hungry for signs that the bank is contemplating a rate cut,” Avery Shenfeld, chief economist at CIBC Capital Markets, said in a note. “Indeed, it’s still putting weight on its view that things will get better from Canada as we look ahead.”
Poloz said the Bank of Canada was not forecasting a recession despite the inversion of the yield curve on U.S. Treasuries late last month. An inverted yield curve has preceded every U.S. recession for the last 50 years, but many market participants question whether it is a good indicator now. “These data suggest that the mixed picture offered up by the Canadian economy today reflects some important structural changes beneath the surface,” he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of America's tech chief is skeptical on blockchain despite having the most patents for itBank of America's tech chief Cathy Bessant is wading into the public debate about the blockchain, whose proponents have claimed will be as significant as the internet.
Read more »
Bank of America's tech chief says there's nothing new about the Apple CardBank of America's Cathy Bessant joins a few industry voices, including analysts at Goldman Sachs, the bank partner for the Apple Card, to downplay the new card.
Read more »
Australia's central bank sets measured tone on rates before budgetAustralia's central bank held interest rates steady on Tuesday and again hi...
Read more »
U.S. to face Canada, Cuba in CONCACAF Nations LeagueThe United States have been grouped with Canada and Cuba in Wednesday’s draw for...
Read more »
Deutsche Bank considers further cost cuts after weak quarter one: HandelsblattDeutsche Bank is considering fresh cost cutting after a weak first three months ...
Read more »
Analysis | China has put Canadian canola oil in the middle of a wider geopolitical disputeA U.S.-China dispute over the December arrest of a Chinese tech executive has entangled Canada.
Read more »
Kazakh Bank Accuses Former Trump Associate Felix Sater of Stealing MillionsIt’s almost showtime for Felix Sater, the Russia-born, a twice-convicted felon and onetime 'senior advisor' to Donald Trump, who is set to testify before the House Intelligence Committee on Wednesday.
Read more »