In this interview with BNN, Ed Devlin discussed the Bank of Canada’s latest policy updates and what the Bank’s future policies should look like. Ed Devlin opened by saying that the current indicators make the economy look good, with factors such as wages and employment on the rise. By contrast, the forward indicators -such as the bank prediction models- are looking a bit worse. In regards to the Bank of Canada’s new policy announcements, Ed thought that there was no major interest rate adjustments and no overarching policy theme. In his opinion, for the Bank to cut interest rates, market conditions need to be such that those measures are clearly necessary, and that the concern that consumer debt will ramp up if borrowing becomes cheaper is valid. Ed also made it clear that while some think Canada is just a mini version of the US, that is not the case. We have different economic cycles, and events like energy crises and NAFTA impact us much more. Ed concluded by stating that he thought the Bank of Canada has been prudent in terms of cautiously moving rates up, and that policymakers have done a lot to make the financial system more sound.