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Auto Tariffs Would Put Central Bank ‘Between a Rock and a Hard Place’: Poloz

(Terry Pedwell – Canadian Press)

Introducing auto tariffs into the Canada-U.S. trading system would put the Bank of Canada “between a rock and a hard place” when it comes to adjusting interest rates, bank governor Stephen Poloz told a business audience in Moncton, N.B., Thursday.

“(It’s) the worst place for a central bank to be,” Poloz said when asked his thoughts about how the outcome of the negotiations for a new North American Free Trade Agreement could affect monetary policy.

The bank governor said uncertainty over NAFTA has resulted in less business investment in Canada than there otherwise should be.

“So you get NAFTA signed, then investment should pick up,” he said. Click here to read more.