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BoC's Poloz: Decision to keep rates on hold shows Bank is decidedly data dependent

Following the Bank of Canada's decision to keep the overnight rate target unchanged at 1.75%, Governor Stephen S. Poloz, and Senior Deputy Governor Carolyn A. Wilkins are delivering their remarks on the monetary policy outlook with key quotes, via Reuters, found below.

  • Housing market taking a lot longer to stabilize than expected.
  • Trade war is having negative consequences.
  • Decision to keep rates on hold shows Bank is decidedly data dependent.
  • Will adapt inflation outlook, rate profile to developments as they unfold.

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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."

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