17:01:24 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Royal Bank of Canada
Symbol RY
Shares Issued 1,441,460,304
Close 2014-07-17 C$ 79.78
Market Cap C$ 114,999,703,053
Recent Sedar Documents

FP says Big Six banks hear Poloz concerned with exports

2014-07-18 07:05 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce

The Financial Post reports in its Friday, July 18, edition that after his first year on the job, Stephen Poloz seems to be finding his own voice. The Post's Garry Marr writes that gone are the allegories about "spaghetti sauce." They have been replaced by a somewhat more pragmatic communications approach, using more conventional terms and phrases to explain what Canadians have been through since the recession, and how and when we might see a "new normal." Remarks by Mr. Poloz on Wednesday reveal a more confident and focused public figure than the one who took over from Mark Carney in June, 2013. Certainly, the job of central bank governor has not gotten any easier. Mr. Poloz says: "We have lots of excess capacity. We have lots of folks who would like to work. And yet the natural engine of growth, being our exports, has not really taken off yet -- except in the energy sector. So, that's my biggest concern." Mr. Poloz, 58, is the former president of Export Development Canada. Now, with the BOC's key interest rate locked at a low of 1 per cent for nearly four years, keeping the recovery alive and hoping to see it grow has become a longer process than anyone expected after the 2008-09 downturn.

© 2024 Canjex Publishing Ltd. All rights reserved.