BoC's Wilkins: Consumer pricing likely goes up in case of end of NAFTA

Eren Sengezer FXStreet

Bank of Canada (BOC) Governor Stephen Poloz and Senior Deputy Governor Carolyn A. Wilkins are responding to questions from the press with key quotes, via Reuters, found below.

Wilkins: Consumer pricing likely goes up in case of end of NAFTA.

Wilkins: Household debt one of the things keeping me up at night, makes us more vulnerable.

Poloz: We didn't walk into policy decision as if it were "no brainer", there was debate.

Poloz: Takes time to get a reading on how economy responding to rates.

Poloz: Credit growth has moderated a little, rate decisions starting to impact some credit decisions.

Key notes

Bank of Canada increases overnight rate target to 1.25% from 1%.

While the economic outlook is expected to warrant higher interest rates over time, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target.

Bank of Canada hikes again, but NAFTA worries persist - ING.

"The Canadian economy is strong and inflation pressures are rising, but the outcome of NAFTA talks is key in determining the path for interest rates," ING economists argue.

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," as published on bankofcanada.ca.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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