BOC Poloz speaking
- we are in an era where interest rates are probably going to stay low
- rates will stay low because demographic and economic growth reasons
- don't know how low rates will be but day won't be like they were 20 or 30 years ago
- central banks therefore will have less room to maneuver
- if inflation is going to be underperforming, then were going to be easier for longer
- some of the talk about damage that could be done by the crisis are little too dire, it's a little overblown
- people are too preoccupied with GDP as the core variable around which everything resolves
- really don't think it will be that hard to get back up the hill after the crisis
- GDP is plunging because economy has been shut off, not because of behavioral factors
- we should see a rapid return of production once shutdowns are over
- really big? Over how much debt will go up as a result of extra spending measures to tackle coronavirus outbreak
- expects surge and creation of new companies once out break is over
Some positive comments from Bank of Canada's Poloz about the recovery potential and his expectations as he gets ready to ride off into the sunset.
