BoC Poloz Says Free Trade, FI and Immigration Play Critical Roles

In a speech to university students on Tuesday, Bank of Canada governor Stephen Poloz argued that free trade, foreign investment and immigration all played critical roles in building Canada’s economy throughout history.

“When trade barriers are falling, when people are coming to our shores and when investment is rising, Canadians prosper. We saw this before Confederation, in the early 1900s and after the Second World War,” said Poloz, according to the text of his speech, which is available online.



“The flip side is that responding to tough economic times by turning inward rarely succeeds. We saw this after Confederation and during the Great Depression,” he said.

“The bottom line of our history is that openness and economic progress go hand in hand.”​

via CBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza