BOC’s Poloz: The trend has been a positive one for the labor market


Speaking to reporters during a press conference late Thursday, the Bank of Canada (BOC) Poloz said that the churn in labor market points to better job matches and productivity.

Asked about nov jobs data, says we don't put a lot of weight on individual data points, especially labor data.

Asked about possible insurance cut if jobs data falls for third month, says would not just look at employment, would look at other indicators, labor market tends to lag.

Central bank is seeing in global economy a bottoming out of most indicators.

Immigrants boost firm creation statistics which can often be a source of productivity.

When interest rates are negative fiscal policy is preferable to monetary policy.

Investment may have been boosted by special factors in third quarter.

Inflation on target suggests the BOC has done its job.

Side effects of low rates are not the bank's prime mission.

Macro prudential measures are there to address financial vulnerabilities.

Basel 3 changes make household sector and financial system more resilient.

Asked what government should be looking for in his replacement, says he is sure there are plenty of qualified candidates.

Movement on USMCA and government capital depreciation measures could be boosting investment in 2019.

He doesn't know what he will do when term ends.

The Canadian dollar trades firmer in tandem with its other commodity peers, rejoicing the trade deal optimism. USD/CAD drops -0.15% to trade around 1.3160 region, at the press time.

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