At least half of the Bank of Canada press conference was dedicated to lamenting the unwillingness of companies to invest in new production. Poloz droned on about how “uncertainty” is a chief culprit.
The other half of the press conference has been dedicated to the Bank of Canada saying it’s uncertain about growth because of “serial disappointment”.
Why should companies be confident and invest when the Bank of Canada lacking the same confidence? Poloz’s solution seems to be hoping that a pickup in the United States will give him, Canadian companies and everyone else enough confidence to start spending money.
At least that’s what I think he was saying, some of it was lost in his adorable, non-stop hand-talking:
“Up yours buddy … got it”
If central banking doesn’t work out for him, I’d suggest: 1) conducting an orchestra 2) parking airplanes 3) Interpreting South African state funerals for the deaf
