GLUM NEWS FROM CANADA'S TOP BANKER

Sep 20, 2016

By Michael Kramer

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The head of the Bank of Canada says when it comes to interest rates, Canadians need to prepare ”for lower, for longer.”
Speaking in Quebec City, Stephen Poloz said, with longer lifespans, Canadians should consider saving more for retirement – and working longer than planned.
Poloz adds, while he’s regularly stopped and thanked by young Canadians for low interest rate mortgages, older Zoomers are definitely taking a hit.
Canada’s top banker adds that it’s time to revisit retirement plans – and rethink investment expectations.
He’s also urging businesses to invest more to help the economy – but Poloz says the current climate means they must lower their expectations – when it comes to rates of return.

 

 

 

 

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