Poloz: ‘digital disruption’ makes it harder to track supply and demand
Technology brings net benefits but also makes the central bank’s work harder, governor says
Though disruption from technology and globalisation are broadly a good thing for the economy, it creates challenges for central banks in understanding fast-moving developments, Stephen Poloz said on September 27.
The Bank of Canada governor said new digital technologies are making it “harder to accurately measure” the components of supply and demand. Measuring fast-moving technological developments is hard, making it difficult to track how much households spend and import.
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