Poloz Says Canada Rates to Remain Low After Recovery

Bank of Canada Governor Stephen Poloz said interest rates will probably be lower than they have been in past economic cycles once the current recovery is complete.

“There is a growing consensus that interest rates will still be lower than we were accustomed to in the past,” Poloz, 58, said in a speech today in Saskatoon, Saskatchewan, without being more specific. He referred to “shifting demographics” for an explanation, adding that “after such a long period at such unusually low levels, interest rates won’t need to move as much to have the same impact on the economy.”