BoC's Poloz speech: Will monitor carefully how economy adjusts

Bank of Canada (BOC) Governor Stephen Poloz is responding to questions from the press with the key quotes, via Reuters, found below:

• Will monitor carefully how economy adjusts
• Economy can handle very well this move today
• Interest rates are still very low, in full course of time don't doubt rates will move higher but no predetermined path
• BoC's Wilkins: Recent export data have been encouraging, monthly GDP show broadening demand across sectors
• CoC's Wilkins: it's the data we got since may that has confirmed or made us more confident in our outlook

Key notes:

BoC: Recent softness in inflation is temporary

In its statement, the Bank acknowledged recent softness in inflation but judged this to be temporary. Read more

USD/CAD in fresh 2017 lows post-BoC, near 1.2850

The Canadian Dollar is gathering further steam today, now dragging USD/CAD to fresh lows in the 1.2860/50 region. Read more

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.