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.
- Use of words “Over time ” in rate announcement is intended to add a degree of ambiguity, means there is no preset course.
- “‹”‹”‹”‹”‹”‹Canadian economy is heading for full capacity with rates in a neutral range.
- We will know where neutral range is when we get close to it.
- Still believes interest rates over time will be higher.
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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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