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.
The Bank of Montreal, the country’s fourth-largest bank by assets, named Douglas Porter chief economist today, replacing Sherry Cooper who is retiring.
The cost of living for Canadians is set to grow at the fastest pace since 1991 this year as concerns about the global recovery keep Bank of Canada Governor Mark Carney from raising borrowing costs.
"While there have been some shifting sands beneath the surface, there is no significant change in the Bank's view on the severity of these risks."
- Doug Porter on Dec 10, 2014
BMO’s Porter Sees April Payrolls Rising 130,000