No need to fret over weakness in global trade growth, Bank of Canada’s Stephen Poloz tells business

, Bitcoin News

Bank of Canada governor Stephen Poloz urged business to embrace global trade’s ‘new balance’ by exploiting ways to ‘nudge forward’ into expanding markets.

OTTAWA — The governor of the Bank of Canada says we “should not fret” about the current slowdown in international trade, nor should we worry that it could lead to another economic downturn.

Instead, Stephen Poloz told a New York audience on Tuesday, companies should embrace a “new balance” by continuing to expand their export markets.

As well, Poloz said it would take “another negative shock” to the economy for policymakers to consider cutting interest rates — as the central bank did in January and July of last year when the global plunge in oil prices pulled the Canadian economy into a temporary recession.

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