Abandoning forward guidance has helped market communication – Poloz
Governor underscores the importance of language
The governor of the Bank of Canada has revealed the central bank drafts each monetary policy statement from a “blank page”, in order to avoid causing market disruption through tweaks in language.
The Bank of Canada’s latest interest rate announcement at the end of May was “a case in point”, Stephen Poloz said on June 27.
“Some observers noted that instead of repeating that we would be cautious about future policy adjustments, we said that we would take a gradual approach to raising interest
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