Bank of Canada's Poloz says was never an advocate for a lower Canadian dollar

Wed Jul 17, 2013 5:28pm EDT
 
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OTTAWA (Reuters) - Bank of Canada Governor Stephen Poloz said on Wednesday he had never been an advocate for a lower Canadian dollar and that the value of the currency would always fluctuate.

Before taking over at the bank Poloz was head of Export Development Canada, the country's export credit agency. Many exporters complain they are finding it tough to deal with the high value of the Canadian dollar.

"I was never an advocate for a lower dollar...the dollar is delivered to us from markets. It's not something we get to choose," he told the Canadian Broadcasting Corp, saying exporters were far more interested in demand growth.

"That will be more important to an exporter than whether the dollar happens to be 96 (U.S. cents) today or 97 tomorrow or what have you. Those fluctuations will always be there."

(Reporting by David Ljunggren; Editing by Leslie Gevirtz)

 
Bank of Canada Governor Stephen Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa July 17, 2013. REUTERS/Chris Wattie