Getting to know the new Bank of Canada governor

“He craves Cap’n Crunch cereal for a late night snack, chills out with Diana Krall and rocks out to the Guess Who when the mood strikes. Meet Canada’s new central banker, Stephen Poloz,” Kathleen Harris wrote in a CBC news article posted earlier in the week. Harris continued, “In a wide-ranging exclusive interview — his first since taking the reins as the Bank of Canada’s new governor — Poloz spoke about monetary policy and revealed a diverse taste in music and his favourite comfort food during a sit-down with CBC News Network’s Power & Politics host Evan Solomon. ‘I am a former DJ and much older than my predecessor, so I like to listen to Guess Who tracks, so something like Albert Flasher would get me up and running,’ he said. ‘But these days more often I’m likely to listen to Diana Krall.'” After having to give up our ‘rock star’ governor Mark Carney to England it seems we’re trying to find the cool in Poloz, but for more serious matters the interview continued with notes on what we can expect in the near future for our central bank. “Poloz delivered his debut monetary report earlier today and announced that the Bank of Canada is keeping its benchmark interest rate at one per cent – the same level it has held at for nearly three years. The governor projected a “choppy” economy ahead due to unusual factors like the Alberta floods and a construction strike in Quebec. Poloz told Power & Politics that Canadian consumers have shouldered the load during the economic crisis, buffering the downturn by buying houses, cars and other big-ticket items. Now, he hopes businesses can soon begin to rely on increased demand from beyond Canada in order to invest in more equipment and churn growth.” Read the full article here.

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