Central banks are in easing mode – BoC’s S.Poloz

By FXStreet FXStreet (Edinburgh) – Stephen Poloz, Governor of the Bank of Canada, has argued that events in the Chinese economy could impact on the rest of the world, adding that its growth track is becoming more moderated. Still in China, Poloz noted that its stock market is ‘a lot more’ volatile than fundamentals. He’s also showed no concerns over the likeliness of a currency war in response to the yuan depreciation.

Regarding the Canadian dollar, Poloz argued that a slump in terms of trade are driving CAD lower, which in turn is hitting consumers via higher import prices.

Poloz also added that the domestic economy could take ‘years’ to adjust to lower resource prices, while he stressed that expectations on growth should be scaled back.
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Source:: FX Street