Stephen S. Poloz former Bank of Canada Governor was on BNN Friday.
My take away from the interview was close to 0 interest rates on CDN sovereign debt... and no hurry to pay debt back.
Here is the Conclusion of the new Bank of Canada Governor Tiff Macklem [June 2020 he started appointed for 7 years]
"Conclusion
It’s time for me to conclude.
The COVID-19 pandemic has taken a tremendous toll here and around the world, in lives and livelihoods lost. And it has disproportionately affected high-contact service-sector jobs that many women and youth occupy.
As Canada achieves widespread vaccinations, we expect the economy to rebound, and many of these jobs will return. But we are not going back to the same economy we had before. Some businesses and some jobs will not return either because of permanent changes in demand or the adoption of new technologies. So, we can expect a long adjustment process and a protracted recovery. The economy will need support for quite some time, and the Bank will continue to do its part.
But monetary policy alone can’t bring about a complete recovery. We all have a role to play to ensure the recovery is broad-based and sustained, with the benefits shared widely. This highlights the importance of targeted public policies, businesses that invest in workers, and an education system that develops the skills needed in the 21st century. I look forward to working together to bring about this shared recovery. Thank you."
Remarks (delivered virtually)
Tiff Macklem - Governor
Edmonton Chamber of Commerce and Calgary Chamber of Commerce
Calgary, Alberta,
Edmonton, Alberta
February 23, 2021
https://www.bankofcanada.ca/2021/02/canadas-labour-market-rebound-recuperation-and-restructuring/
The US added 2.6T$ to money supply between 2009-2020... and 2T$ alone in 2020
How will this increased money supply and the Pandemic affect our farms and grain prices?
Volatility is the biggest result...
Perhaps Grains are favoured above all else... in the new green economy?
Much to think about!
Cheers
My take away from the interview was close to 0 interest rates on CDN sovereign debt... and no hurry to pay debt back.
Here is the Conclusion of the new Bank of Canada Governor Tiff Macklem [June 2020 he started appointed for 7 years]
"Conclusion
It’s time for me to conclude.
The COVID-19 pandemic has taken a tremendous toll here and around the world, in lives and livelihoods lost. And it has disproportionately affected high-contact service-sector jobs that many women and youth occupy.
As Canada achieves widespread vaccinations, we expect the economy to rebound, and many of these jobs will return. But we are not going back to the same economy we had before. Some businesses and some jobs will not return either because of permanent changes in demand or the adoption of new technologies. So, we can expect a long adjustment process and a protracted recovery. The economy will need support for quite some time, and the Bank will continue to do its part.
But monetary policy alone can’t bring about a complete recovery. We all have a role to play to ensure the recovery is broad-based and sustained, with the benefits shared widely. This highlights the importance of targeted public policies, businesses that invest in workers, and an education system that develops the skills needed in the 21st century. I look forward to working together to bring about this shared recovery. Thank you."
Remarks (delivered virtually)
Tiff Macklem - Governor
Edmonton Chamber of Commerce and Calgary Chamber of Commerce
Calgary, Alberta,
Edmonton, Alberta
February 23, 2021
https://www.bankofcanada.ca/2021/02/canadas-labour-market-rebound-recuperation-and-restructuring/
The US added 2.6T$ to money supply between 2009-2020... and 2T$ alone in 2020
How will this increased money supply and the Pandemic affect our farms and grain prices?
Volatility is the biggest result...
Perhaps Grains are favoured above all else... in the new green economy?
Much to think about!
Cheers
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