Bank for International Settlements

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Will a Trudeau-led Canada lead the global reflation trade?

For years the Bank for International Settlements has essentially been pleading with developed countries to stop relying on monetary policy to juice their economies. The implied message was clear: if countries want to stimulate their economies, do it with fiscal policy. So far, the BIS pleas have fallen on deaf ears. On Monday, Canada may well send the Swiss-based BIS an encouraging reply. If the polls are right, Justin Trudeau's Liberals will win a mandate which includes going into a modest deficit to build infrastructure and housing.

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