Stephen Poloz's Insights on Inflation and Economic Growth in Canada
Canada is on a path to get inflation under control, Stephen Poloz says đź”—
Stephen Poloz, the former Governor of the Bank of Canada, expressed confidence in Canada's ability to control inflation, which is currently at 2.5 percent, its lowest since March 2021. He emphasized the importance of monitoring economic risks as the country aims for a 2 percent inflation target while acknowledging challenges such as stagnant productivity and the need for increased immigration to boost the workforce. Poloz is also working with the federal government to enhance pension fund investments in Canadian businesses by identifying and removing barriers to such investments.
What is the current inflation rate in Canada?
The current inflation rate in Canada is 2.5 percent, the lowest level since March 2021.
Why does Poloz believe immigration is important for Canada's economy?
Poloz believes immigration is crucial for growing Canada's workforce, as the country is not experiencing natural workforce growth, and it will be essential for future economic growth.
What is Poloz's role regarding pension fund investments?
Poloz is leading a group for the federal government that aims to encourage more pension fund investments in Canadian businesses by identifying and removing obstacles that hinder these investments.