Finance Minister Announces Stephen Poloz as New Governor of the Bank of Canada

In somewhat of a surprise move, Finance Minister Jim Flaherty passed over presumptive favourite Senior Deputy Governor Tiff Macklem in naming Stephen Poloz as the new governor of the Bank of Canada.

Mr. Poloz spent 14 years with the Bank of Canada in numerous roles including Chief of the Bank's Research Department before moving on to Export Development Canada (EDC) where he served as the Chief Economist and, since 2011,  as the EDC's CEO and President.

While Mr. Poloz has been outside of monetary policy-making for some time and his views are relatively unknown, we do not expect the Bank's approach to change in a material way in the near future. The Bank will still operate under a flexible inflation targeting regime with a focus on medium-run inflation of 2 per cent and our view remains that interest rates will remain on hold over the next year while the Bank's forward guidance on rates will remain neutral. 

Comments:

No comments

Post Your Comment:

Your email will not be published
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.