Poloz Provides Economic Outlook

CBJ — Bank of Canada governor Stephen Poloz says the global economy appears poised to continue with slow growth into 2020.

Poloz made the comments at Toronto’s Empire Club on Thursday.

He says the increased use of artificial intelligence and the fourth industrial revolution bring the potential for productivity gains in the future, but those gains are not yet being seen in the economy.

The Bank of Canada kept its key interest rate on hold last week at 1.75%, where it has been set for more than a year.

Earlier this week Poloz announced he would not be seeking a second term as governor of the Bank of Canada.