Poloz speech: The door is obviously open to an interest rate cut

Eren Sengezer FXStreet

Bank of Canada (BoC) Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins are now responding to questions from the press following the BoC's decision to leave the policy unchanged at 1.75% in January.

Key quotes

"Global trade turmoil has hit Canada and other nations heavily through slower investment."

"If we get USMCA ratification done it should have a meaningful impact on investment in Canada."

"The door is obviously open to an interest rate cut."

"Calculations on a possible rate cut would depend on data."

About Stephen Poloz (via bankofcanada.ca)

"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."

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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