Bank of Canada's Poloz says growth has disappointed

Fri Oct 11, 2013 2:57pm EDT
 
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WASHINGTON Oct 11 (Reuters) - Bank of Canada Governor Stephen Poloz said on Friday economic growth in the country has disappointed so far and countered speculation by some market players that he was more bullish than the bank's senior deputy governor, Tiff Macklem.

"It's fair to say that growth has disappointed us to this stage. We are behind where we thought we would be, say a year ago or for that matter six months ago," Poloz said at a news conference following a meeting of finance ministers and central bank governors from the Group of 20 nations.

"But still the signs continue to encourage, almost teasing you because it's a little bit better but not as much better as you were hoping," he said.

Poloz acknowledged there had been some market confusion over the bank's near-term forecasts after he delivered an upbeat speech last month. Macklem sounded gloomier in another speech less than two weeks later but Poloz said the two had the same view.