Stephen Poloz of Bank of Canada is part of this year's Wealth Professional Canada's Hot List.
BANK OF CANADA
Like his counterpart at the Federal Reserve, Bank of Canada Governor Stephen Poloz is reluctant to raise rates too quickly right now, despite strong growth in the economy. NAFTA negotiations loom large over Canada’s economic prospects, which has caused the central bank to fall into somewhat of a holding pattern regarding interest rates. Speaking to the Standing Senate Committee on Banking in April, Poloz confirmed that interest rates will continue to rise from their current low levels, but he’s not planning significant hikes anytime soon.
“Of course there are risks in moving too quickly – people have a lot of debt,” he said. “The last thing we want to do is to cause a financial stability risk to be more significant by moving too quickly.”