“It’s kind of an imprecise science,” said Stephen Poloz, governor of the Bank of Canada. “When you try to impose precision on it, it’s just going to be frustrating because it doesn’t have the degree of meaning that you’d like to attach to it.”
Speaking on the sidelines of the International Monetary Fund spring meeting in Washington, D.C., Mr.
Poloz expressed concern that markets are attaching too much importance to the precise numbers in the Bank of Canada’s estimated neutral range, which is currently between 2.5% and 3.5%. The neutral rate refers...
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