The Bank Governor's comments avoided the elephant in the room - galloping socialist governments running up debt and deficits at a rate that is completely unsupportable according to any valid recognized economic thinking.

When the economy is clipping along at a 3.7% growth rate, that's when governments should be repaying debts, not running them up a rate that warrants a warning comment from some independent authority .... like the Governor of the Bank of Canada, for example.

Poloz evidently sees his role as lap dog to the federal government, obediently chirping distractions to deflect attention from the one completely controllable variable that would strengthen the country's economic resilience - LOWER GOVERNMENT SPENDING!

As it is, the feds have taken tools out of his hands.  If he hikes interest rates, government deficits balloon to crisis levels, creating a double whammy headwind for the economy.  Poloz needs to give Butt et al a good tongue lashing.