Poloz stays clear of doomsday scenario. “There is good reason to think that we can continue to manage these risks successfully”

If there is one thing that annoys a certain group of people in my Twitter bubble about Stephen Poloz, it’s the Bank of Canada governor’s perceived complacency in the face of what these people see as imminent economic disaster.

The reason for their frustration is Poloz’s unwillingness to raise interest rates to slow the accumulation of household debt, which now is about 170 per cent of disposable income. As you will have read many times, that’s a record. It’s also a number that...

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