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Significant Stimulus Needed to Rebuild Economy, Poloz Says
Canada’s economy will continue to require significant amounts of stimulus in the rebuilding phase, even with the potential for higher debt levels to fuel financial vulnerabilities, according to the outgoing head of the country’s central bank. Bank of Canada Governor Stephen Poloz, in his final speech before stepping down next week, said the deflationary risks associated with the pandemic and lockdowns are more concerning than the potential build up of inflationary pressures and vulnerabilities due to the extraordinary measures taken by policy makers. “Although a minority of observers worry that these extreme ... (full story)