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BoC's Poloz: Economy is on a solid footing but faces risks, such as low oil prices

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 responding to questions from the press with key quotes, via Reuters, found below.

  • Economy is on a solid footing but faces risks, such as low oil prices.
  • Bank's analysis is that deviation from full capacity will be temporary.
  • Still believes Canadian economy is heading for full capacity with rates in a neutral range.
  • Considerable uncertainty on where the neutral range is.

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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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