Don't assume further rate cuts from the Bank of Canada, Poloz warns
Former Bank of Canada Governor Stephen Poloz / OSLER PHOTO
Former Bank of Canada governor Stephen Poloz cautioned that markets should not expect further rate cuts, emphasizing that the central bank will remain focused on inflation risks driven by tariffs. “Inflation has been kind of firming lately, using the core measures the Bank of Canada pays attention to,” said Poloz, adding that “the counter tariffs that the government has put in place will start boosting inflation in the next couple of months.” Reflecting on past policy missteps, Poloz noted, “The central bank said, ‘Don’t worry, that’s a transitory thing.’ Well, transitory turned out to be two years.”
