Bank of Canada’s current ‘narrative’ seems misplaced
How do we compete with Mexico? Not by engaging in competitive currency devaluations, nor by building a wall or tearing up NAFTA, as Donald Trump threatens. We have to build a much more innovative economy that competes on quality and value, and that is not easy and it takes focus and time. This is the narrative that Poloz should be looking to.
TORONTO—Bank of Canada Governor Stephen Poloz has what he calls his “narrative." In this narrative, the combination of a strongly growing U.S. economy along with a fall in the exchange rate of the Canadian dollar leads to an upsurge of exports, which triggers new business investment and jobs in ...
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