Poloz upbeat on US and Canadian productivity prospects
The US is due for a period of higher productivity growth, while there is "every reason" to think Canada will follow suit, Bank of Canada governor Stephen Poloz said today (April 26).
Speaking in New York, Poloz drew a link between the evolution of global trade growth and productivity. Trade rebounded in 2010, after dropping in the wake of the crisis, but is now "trailing even the tepid pace of global GDP growth".
Part of this is structural, Poloz said, arguing the big opportunities for increased
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