The Globe and Mail reports in its Tuesday, Nov. 29, edition that Bank of Canada Governor Stephen
Poloz suggested that continued
uncertainties surrounding
Canada's economic outlook have
set the bar high for an interest
rate change, as the central bank
approaches its deliberations for
next week's rate decision.
The Globe's David Parkinson writes that Mr. Poloz says the wide range of
uncertainties that the bank outlined
in its October rate decision "is still present." He says the BOC is looking "for
more evidence on several economic
fronts that would clarify
the big picture."
He says the surprise election of
Donald Trump
did little to clear up uncertainty to the outlook. Mr. Poloz says new data coming
between now and next week's
BOC rate decision,
especially Wednesday's third quarter
gross domestic product
report, will provide the bank
with some key additional indicators
of the state of the economy.
Mr. Poloz says, "It should help us bring things
into focus."
Mr. Trump's election victory raises new worries
about the future of Canadian
exports to the United States, a
critical component of the central
bank's road map for Canada's
economic recovery.
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