Tradelines News

Get the latest news and updates on cross-border customs and international trade.

Bank of Canada Won’t Follow Fed’s Lead on Interest Rates, Poloz Says

Posted August 25, 2014

Under Economic Issues, International Trade Issues

(Kevin Carmichael – Globe & Mail)

Bank of Canada Governor Stephen Poloz wants to make something perfectly clear: When the Federal Reserve starts raising interest rates, Canada’s central bank won’t necessarily follow immediately.

“The main thing people should understand is that our policy is quite capable of being fully independent, as it has been these past few years,” Mr. Poloz said in an interview at the annual gathering of central bankers and economists at Jackson Hole, Wyo., over the weekend.

Mr. Poloz’s comments followed a speech by Janet Yellen, in which the Fed chair embraced the possibility that stronger economic growth could prompt the U.S. central bank to lift its benchmark lending rate sooner than expected. Read more here.

Related:Yellen: Rate Hike on the Table, but Labor Market Improvement Overstated (RTT)