Poloz’s ‘headache’ sends the loonie tumbling - GIC Wealth Management


FYI/Blog Poloz’s ‘headache’ sends the loonie tumbling

Poloz’s ‘headache’ sends the loonie tumbling

Dollar sinks
Stephen Poloz managed to knock the Canadian dollar below 90 cents over the course of one speech today with a generally weak outlook for the economy.
At least he didn’t lack humour as he painted a picture of lagging economic growth. Here’s how he began his talk to the Halifax Chamber of Commerce: “Happy belated St. Patrick’s Day. I hope everyone’s feeling fine. I want to speak today about a different kind of headache: the prolonged lacklustre economic growth we are experiencing, here in Canada, but also globally.” The loonie, as Canada’s dollar coin is known, was at 90.5 cents when the Bank of Canada posted the governor’s speech on its website, noted chief currency strategist Camilla Sutton of Bank of Nova Scotia.

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