Canadian Economy: Tipping Point
Sep 18, 2013
Bank of Canada Governor Stephen Poloz suggested the Canadian economy is about to enter a new phase of growth powered by business investment and exports as the U.S. “Evidence suggests we are now close to the tipping point from improving confidence into expanding capacity,” he said in a speech to the Vancouver Board of Trade. Poloz said there was evidence “we are on our way home” to economic growth that is self-sustaining rather than relying on low interest rates. The speech provided no obvious hints on the timing of the next rate hike, and while the tone was confidence-building, the underlying message was that a tightening of monetary policy is still a long way off.