“It’s the effect on light [oil] which is the newsworthy item,” Mr. Poloz said in a news conference in Toronto. He said the central bank plans to hold special, targeted meetings with members of Canada’s energy industry to discuss how the situation will affect their plans for investment and determine whether layoffs are a possibility. “We will have a lot more information by the time we get to January to understand [the decline in oil prices], which is the most important new shock that we’re dealing with,” Mr. Poloz said. CIBC World Markets economist Royce Mendes said the governor’s remarks provided another indication that the central bank is in a far more data-dependent state than it was during its last rate decision in October. He said the governor sounded less certain about where the neutral interest rate stands compared with past commentary and noted that Mr. Poloz didn’t rule […]