BOC's Poloz: We're in an era where rates are likely to stay low
Comments from Poloz
Pssssst, we've been in an era of low rates for over a decade.
More from the outgoing BOC leader:
- Rates likely to stay low because of demographic and economic growth reasons
- Some talk about crisis damage is "a little too dire. It's a little overblown"
- Says he's relatively optimistic "compared to what the talk is" and situation is tracking close to BOC's best case
- Really don't think it will be that hard to get back up the hill after crisis
- We should see a very rapid return of production once the shutdown is over
- Big question mark of how much debt will go up
Poloz was optimistic on his first day at the BOC and he's going out as an optimist. I respect the consistency but let's just say that his optimism on a number of fronts hasn't exactly borne out, particularly on a rebound in manufacturing and rising business investment.