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A sign is pictured outside the Bank of Canada building in Ottawa in this file photo.
A sign is pictured outside the Bank of Canada building in Ottawa in this file photo.
(Chris Wattie/Reuters)

You can’t fight the Fed – even if you’re the Bank of Canada

Investors are perturbed with Bank of Canada boss Stephen Poloz. The central bank’s decision Wednesday to retreat from its long-standing promise of eventually raising interest rates (its so-called “tightening bias”) signals bottom-of-the-barrel policy interest rates from the bank for a long time to come. To many, that dashes their hopes of improving yields in the financial market.