Following the Bank of Canada’s decision to keep its policy rate unchanged 0.25%, Governor Stephen S. Poloz is responding to questions from the press.
Key takeaways
“Best case scenario would involve starting to lift restrictive measures in late May, early June.”
“Bank was not concerned that not giving outlook forecasts would send a bad message to markets.”
“Bank does not see itself as being in a forecasting contest.”
“Very rich analysis of data helped staff frame the bank’s two scenarios.”
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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