BoC Governor Stephen Poloz, talking to BBG TV on the sidelines of World Economic Forum in Davos, said that oil price slump is a material shock to the economy and will knock about 0.4% from GDP.
Additional quotes:
“¢ The Canadian economy is in good shape.
“¢ Global trade tension is a two-sided risk.
“¢ A resolution would lift global growth.
“¢ Canadian policy is data dependent.
“¢ The neutral rate is seen at 2.5% to 3.5%.