Most Powerful People

Canada’s Most Powerful Business People 2016: #8 — Stephen Poloz

Safeguards the economy

Stephen Poloz, Governor, Bank of Canada
(Andrew Francis Wallace/Toronto Star/Getty)

#8: Stephen Poloz

Governor, Bank of Canada

Why he matters: Safeguards the economy

If anyone is going to have a say on whether Prime Minister Justin Trudeau can carry out his ambitious agenda and big spending promises, it’s Stephen Poloz. The central bank’s latest monetary policy report, which lowered growth expectations for 2016 and 2017, could force Trudeau to rein in his spending plans upon returning to the House of Commons. Poloz’s bold and unexpected move to cut rates this year—not once, but twice—has been credited for dampening the impact of the sharp drop in global oil prices on the Canadian economy.

More of Canada’s Most Powerful Business People:

▲ #7 Prem Watsa
▼ #9 Alain Bouchard