Canada is in a very good fiscal situation and should not be worried about running up deficits at this point, Bank of Canada Governor Stephen Poloz said in a television interview aired on Sunday.
The comments support Prime Minister Justin Trudeau and his year-old Liberal government, which is set to run a deficit of $29.4 billion in the current fiscal year as it pours money into infrastructure and a tax credit for families.
Pressed in an interview with Global television on whether there is a danger to running budget deficits, Poloz said Canada is a long way from that point.
"There is a balance somewhere but I can tell you that I think we're pretty far away from that balance point," Poloz said in an interview with Global’s "The West Block with Tom Clark."Read More