BoC's Poloz speech: Will monitor carefully how economy adjusts
Bank of Canada (BOC) Governor Stephen Poloz is responding to questions from the press with the key quotes, via Reuters, found below:
- Will monitor carefully how economy adjusts
- Economy can handle very well this move today
- Interest rates are still very low, in full course of time don't doubt rates will move higher but no predetermined path
- BoC's Wilkins: Recent export data have been encouraging, monthly GDP show broadening demand across sectors
- CoC's Wilkins: it's the data we got since may that has confirmed or made us more confident in our outlook
Key notes:
BoC: Recent softness in inflation is temporary
In its statement, the Bank acknowledged recent softness in inflation but judged this to be temporary. Read more
USD/CAD in fresh 2017 lows post-BoC, near 1.2850
The Canadian Dollar is gathering further steam today, now dragging USD/CAD to fresh lows in the 1.2860/50 region. Read more
About Stephen Poloz
Stephen S. Poloz was appointed Governor of the Bank of Canada, effective 3 June 2013, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank and a member of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both the BIS Audit Committee and the Consultative Council for the Americas.