Bank of Canada Governor Stephen Poloz said he can’t rule out an interest-rate cut if the economy worsens, following a speech where he blamed harsh winter weather for mainly sparking weaker-than-forecast growth.
Derek Friesen thought he would be following in his father’s footsteps when he became the third generation of his family to work at H.J. Heinz Co.’s tomato processing plant in his hometown of Leamington, Ontario.
Surprising gains in output and inflation will probably keep Bank of Canada Governor Stephen Poloz from signaling looser monetary policy again after the central bank sent dovish messages on its last three announcement dates.
The Bank of Canada should overlook slowing inflation stemming from the arrival of large U.S. retailers such as Wal-Mart Stores Inc. and focus on fighting tepid demand, Senior Deputy Governor Tiff Macklem said.
Canada is increasing funding for automakers by $500 million ($454 million) in a bid to attract more investment from companies such as Chrysler Group LLC to an industry reeling from global competition and declining output.