BoC's Poloz speech: Asked if rates could be raised again later this year, says will not make forecasts
|Bank of Canada (BOC) Governor Stephen Poloz is responding to questions from the press with the key quotes, via Reuters, found below:
- Asked if rates could be raised again later this year, says will not make forecasts
- This is good news for Canada, it's a symptom of an improving economy
- Federal govt infrastructure program is important part of closing of output gap
- Still some adjustment happening since oil price shock
- Oil impact is enough in the rear view mirror now, contraction in sector appears to be complete
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.
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