Canada’s Poloz says policy-makers ‘preoccupied’ with growth slowdown

Central bank expects weakness to be temporary, but cuts more hawkish wording

Stephen Poloz
Bank of Canada

The Bank of Canada’s governing council was “preoccupied” with the growth slowdown in reaching its latest decision, said governor Stephen Poloz on April 24.

Unveiling the central bank’s decision to hold the policy rate at 1.75%, the governor said if the growth slowdown were to persist, it would likely cause inflation to dip below target.

However, Poloz said the central bank expected the slowdown to be temporary. The Bank of Canada forecasts growth will be 1.2% this year but will climb to 2% in

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