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.
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.
Bank of Canada Governor Mark Carney said there is less need to signal changes in interest rates than last year, when he gave advance notice of his intention to raise borrowing costs, according to CIBC World Markets chief economist Avery Shenfeld .
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.
Bank of Canada Governor Stephen Poloz kept his main interest rate unchanged and said the risks of inflation staying below target “appear to be greater” in an economy that’s two years away from reaching full output.