Making comments in a WSJ interview.

Bank of Canada Poloz gave an interview to the WSJ. Headlines are coming out across the newswires. The interview can be found here:

CLICK HERE for WSJ interview

He adds that:

  • Banks are well positioned for any housing downturn
  • Housing concern won't alter rate policy
  • Using monetary policy to fix housing is too blunt a tool.
  • Need to use macroprudential tool such as urging lenders to increase their information requirements for loans
  • this contribution we can make to regularizing things is to ensure the economy stays on a good growth track
  • The way the market performed in the wake of Brexit was very reassuring
  • Low rates can fuel exchange rate variability
  • The world economy is still in kind of a fragile place
  • In normal times the world economy would be growing incredibly fast at such low interest rates.
  • The fact that the global economy is not growing fast, suggest there's something pretty significant holding it back