BOC’s Poloz: Closely watching market conditions, ready to provide markets with all the liquidity


In a scheduled appearance on Wednesday, the Bank of Canada (BOC) Governor Stephen Poloz said that the central bank is closely watching market conditions and is ready to provide markets with all the liquidity they need.

Additional comments

Government actions are elastic and can be expanded, this is desirable.

Will take effect of government actions fully into account when it releases forecasts on April 15.

We've made a lot of moves in just a few days.

Bank did C$35 bln worth of exceptional transactions.

Actions are helping ease credit tensions.

Important for us to take some time to see how market functions.

Will continue to provide whatever the system needs; what we have done seems to be functioning well so far.

Would not rule out Quantitative Easing, says this is a standard part of bank's toolkit.

USD/CAD reaction

USD/CAD is off the four-year high of 1.4548, still trades around 1.4530, up 2.35% on the day.

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