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QE is an adequate but not perfect substitute for monetary policy- BOC’s Wilkins

FXStreet (Mumbai) - The Bank of Canada senior deputy governor Caroline Wilkins was on the wires today stating the QE is an adequate, but not perfect substitute for monetary policy when the interest rate cannot go lower.

Key Quotes

Current inflation-targeting framework is working well

Negative policy interest rates lessens the need to raise inflation target

2% inflation target means 0% policy rate more likely than before

Premature to say if negative rates create more demand or not

AUD/USD potential for a re-visit of 0.70 – OCBC

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AUD/USD remains capped by 0.7150 area

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