Canadian Manufacturing

Executives want new BoC governor to maintain status quo: CPA

Survey found 74 per cent want Stephen Poloz to follow same policies as his predecessor



TORONTO—A strong majority of executives surveyed for the latest CPA Canada Business Monitor want new Bank of Canada governor Stephen Poloz to follow the same policies as his predecessor.

According to the survey, 74 per cent want to see Poloz maintain the status quo after taking over as central bank head from Mark Carney this month.

“There often is a greater comfort level with something you are familiar with versus the unknown,”Chartered Professional Accountants of Canada (CPA Canada) president and CEO Kevin Dancey said in a statement.

“Most of the executives surveyed are not looking for a shakeup.”

For example, 84 per cent of the respondents believe that the bank should continue to warn Canadians to reduce their debt levels.

When asked if the selection of Poloz as Bank of Canada governor is positive for the economy, the majority of respondents (56 per cent) were neutral or withholding judgment.

Another 20 per cent viewed the selection as positive and just four per cent disagreed with the statement.

The rest did not know.

There is basically a three-way split among the respondents when asked if the influence of Canada in the global economy will diminish with Carney’s departure, according to CPA Canada.

The survey found 32 per cent agreed, 30 per cent disagreed, 30 per cent were neutral and the rest did not know.

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