Poloz calls the oil effect “atrocious”

Poloz calls the oil effect “atrocious”

Poloz calls the oil effect “atrocious” Bank of Canada governor Stephen Poloz said that the effects of the lower oil price on the Canadian economy is “atrocious”. Speaking to the Financial Times he said that despite that there are good signs for exports and the central bank still has things it can do to improve the economy if required. Poloz says he is cautious about the economy because although the lower oil prices should mean more money in consumers’ pockets which they may well spend, large scale layoffs would hit some provinces hard.