Economics
For Poloz, Quick Hike Shows Data Speak Louder Than Words
- Only 6 of 29 economists expected Bank of Canada move last week
- Lack of signaling recalls bygone era of central banking
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The Bank of Canada has gone back to the future.
For the past decade, traders have been conditioned to expect central banks to both telegraph policy tweaks ahead of time and offer a thorough rationalization of those shifts at the time of implementation.