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The Bank of Canada (BOC) Poloz is back on the wires now, via Reuters, making some comments on the central bank’s 50bps rate cut announced on Wednesday.

Key quotes

Expect to see consumer confidence declining as virus unfolds, hope lower rates will mitigate the decline.

BOC was leaning towards cutting rates even without virus.

We expect rate cut to boost housing activity more than otherwise.

more to come ….