There are reputable economists who believe the business of raising and lowering official interest rates should be automatic, based on economic conditions and little else.
Bank of Canada Governor Stephen Poloz is not one of them.
Canada’s central bank opted against raising interest rates on Oct. 25, deciding that two quarter-point increases over the summer are enough for now. “The economy is expanding inflation-free farther than what many people thought when it began,” Poloz said at a press conference. “If you nipped it in the bud, wouldn’t you regret it afterwards?”
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