January 25, 2018 / 11:49 AM / a year ago

Bank of Canada's Poloz says even he doesn't know future of rate hikes

OTTAWA, Jan 25 (Reuters) - Bank of Canada Governor Stephen Poloz said on Thursday that even he does not know what potential there is for more interest rate hikes this year, reiterating that policymakers remain data dependent and cannot be mechanical about their approach.

“That’s a question even I don’t know the answer to. We’re being very open about that. So we’ve explained to people that there are a number of important issues that force us to not be mechanical or to use a rule or to plan ahead in that way. We’ve said we are totally data dependent,” Poloz said in an interview with CNBC at the World Economic Forum in Davos, Switzerland.

“One of the most important (issues) is with the level of debt we have today, compared to what we had 10 years ago. We are absolutely certain the economy will prove to be more sensitive to higher interest rates than in the past,” Poloz added. (Reporting by Andrea Hopkins Editing by Jeremy Gaunt)

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