Doug Porter, chief economist at the Bank of Montreal, said the Canadian dollar is overvalued by 5 percent to 10 percent given levels of commodity prices.
The time is right for Stephen Poloz to drop the Bank of Canada’s bias toward raising interest rates when he takes over as governor next month, according to Bank of Montreal’s Doug Porter.
Canadian employers unexpectedly cut jobs in January while home builders slowed the pace of new construction to the least since 2009, suggesting a languid start to the new year for the country’s economy.
The Bank of Montreal, the country’s fourth-largest bank by assets, named Douglas Porter chief economist today, replacing Sherry Cooper who is retiring.
"We can do better, but I think this report is a big step in the right direction."
- Doug Porter on Aug 29, 2014
BMO’s Porter Sees April Payrolls Rising 130,000