Four Missing Pieces in the Puzzle of Poloz's Shift to Rate Hawk
- BOC governor’s recovery talk opens door to July 12 rate rise
- Reports on business outlook, GDP and trade to fill in blanks
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The door to higher interest rates in Canada is suddenly wide open.
Bank of Canada Governor Stephen Poloz reiterated this week he’s considering raising rates as the economy heats up and spare capacity disappears. It was the latest in a barrage of statements from Poloz and his deputies that suggest the central bank is firmly in the tightening camp, even with oil prices below $50 a barrel and inflation falling further below its 2 percent target.