The Big Picture: Revisiting Household Debt
On December 6, 2019, the Bank of Canada announced that its ninth Governor, Stephen Poloz, would be stepping down in June 2020 at the conclusion of his seven-year term. During his tenure, the bank has been successful in keeping core inflation near the 2% mid-point of its target range. Over the same time frame, the bank has also kept interest rates relatively stable and near historic lows. Like virtually all of the world’s other major central banks, it has clearly been attempting to balance the need to stimulate the economy while simultaneously trying to keep inflation down. Read more.