Current Bank of Canada head Stephen Poloz speculated that Canada’s difficulties returning to pre-recession export levels is there are about 9,000 fewer Canadian exporting companies than in 2008
The bank officially rates overall risk as “elevated,” one rung lower than the “high” level it has had in place since December 2011
Macklem, who was beat out for the top bank job by Stephen Poloz, will depart in the spring
The transition to export-based growth has been slower than expected, particularly in non-resource exports such as manufactured goods.
There is a danger central banks won’t be able to manage the exit properly, leading to losses in their balance books, loss of confidence and high inflation.
The minister told reporters that his intent all along has been to make a choice at about the end of April