Canada can maintain an independent interest rate policy: Poloz

Wed Sep 18, 2013 11:55am EDT
 
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VANCOUVER (Reuters) - Canada can maintain an independent stance on interest rates from the United States because monetary policy in the two countries does not need to mimic that of the other, Bank of Canada Governor Stephen Poloz said on Wednesday.

Poloz made his remarks after a speech in Vancouver when asked whether Canada was so tied to the United States that Canadian interest rate policy relied on what the Americans did.

Poloz also said that although the two countries' economies were tightly linked, "that does not mean that monetary policies need to mimic each other, and as you can see, we've had a substantially different monetary policy in Canada compared to the United States and I think that independence is there - as it always will be - as we target inflation."

(Reporting by David Ljunggren)

 
Bank of Canada Governor Stephen Poloz prepares to speak before a parliamentary committee on Parliament Hill in Ottawa June 6, 2013. REUTERS/Blair Gable