"The Bank judges that the substantial monetary policy stimulus currently in place remains appropriate. The risks associated with elevated household imbalances have not materially changed, while the downside risks to inflation appear to be greater."
- Stephen Poloz, Bank of Canada Governor
Canada is loosing its position among the world's leading economies. Such a statement can be made through a variety of fundamental data and analysts' comments. The economy posted a stronger-than-expected growth in the third quarter, boosted by a 0.6% growth in household consumption, with positive numbers seen in both the goods and service sectors. Nonetheless, Canadian policymakers stayed pat on the monetary policy, citing weak inflationary pressure, disappointing exports and elevated household imbalances.
Another fly in the ointment was the survey from the Forbes, which showed the land of the Maple lead is decelerating in the list of "Best Countries for Business", falling to the eight position, all in just a span of two years. In comparison, Canada was ranked first in 2011 and stood at the fifth position in 2012. At least 11 measures were used to rank 145 countries, and Canada was considered as the country with biggest personal freedom. This year the frontrunner was Ireland, a country that suffered a lot during the financial crisis.
During the seven-year reign of the current Conservative government Canada was known as a business-friendly country. However, taking into account global headwinds and domestic problems the nation's attractiveness for investors began to fade.
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