BoC's Poloz plays down forward guidance into 2018

Bank of Canada Governor Poloz was interviewed by the Globe & Mail over the weekend, playing down forward guidance ahead of possible further rate hikes into 2018.

Key Quotes

I'm confident that other central banks, now that we are getting much more into normalcy, will gradually temper down the details around their forward guidance, too.

I'm not going to judge whether the market got it right or not. But it does seem like the market has a tendency to seize on a new word as if it's a new secret code.

Caution does not mean sitting back and doing nothing.

We need to get ourselves up there for real, and to the 2-per-cent zone, so we have room to manoeuvre for the next shock that comes along.