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BoC's Poloz: Process for raising rates is not regular, depends on how the economy is doing

Following the Bank of Canada's decision to keep the overnight rate target unchanged at 1.75%, Governor Stephen S. Poloz is responding to questions from the press with key quotes, via Reuters, found below.

  • Process for raising rates is not regular, depends on how the economy is doing.
  • Although new USMCA trade pact will take months to be approved, it is still a big step forward.
  • Recent federal Canadian tax measures to encourage investment have removed competitive disadvantage with united states, says that is pretty significant.

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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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