Weak housing market and lower oil prices depress outlook for Canada – Poloz
Central bank holds interest rates as economy shows no sign of near-term strengthening
Lower oil prices have reached the point where they will have “material consequences” for Canada’s economic outlook, the governor of the country’s central bank warned on January 9.
Presenting the Bank of Canada’s latest monetary policy decision, in which interest rates were left unchanged at 1.75%, Stephen Poloz said the supply of oil had been outpacing demand, depressing prices.
“Here in Canada, the situation has been made more difficult because Western Canadian oil prices have been depressed
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