Stephen Poloz on interest rates, our oil industry and the K-shaped recovery — podcast
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The U.S. presidential election has finally been called and former vice president Joe Biden is set to take over the White House in January.
This week on Down to Business, Stephen Poloz, former Governor of the Bank of Canada and a special adviser at Osler, discussed the state of Canada’s own affairs, including its economic recovery and any potential impacts from the U.S. election.
In June, Poloz stepped down as governor, where he was just the ninth person to lead Canada’s central bank. His appointment started way back in 2013, and stretched well into the coronavirus pandemic earlier this year.
Poloz challenged the widely held view that change in the U.S. presidential administration will have a drastic effect on many U.S policies. Especially when it comes to trade, he said the populism that has characterized the last four years has longer economic roots and may not be going away any time soon. While a change in tone may help reduce business uncertainty, there are still many question marks about what other policies could change.
