Poloz: volatility not a reflection of central bank credibility

Stephen Poloz, photo by Bank of Canada
Bank of Canada

Growing volatility in financial markets does not reflect an "erosion" of central bank credibility, argued Bank of Canada governor Stephen Poloz today.

Instead, he told the Canada-UK Chamber of Commerce in London that it is a "natural reaction" to economic uncertainty as central banks begin to normalise monetary policy.

Poloz made his case by unpicking some of the factors behind the rise in volatility in a wide variety of asset classes over the past few months, including US Treasuries.

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