Following the Bank of Canada’s decision to keep its policy rate unchanged 0.25%, Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins are responding to questions from the press.
Key takeaways
“Example of China recovery shows supply side is working; people not going out much, so demand side may be slower coming back than supply-side.”
“Larger concern would be a downside for inflation, demand could fall short in the recovery phase and hold inflation lower for a longer period.”
“No governments asked bank to set up a provincial debt backstop.”
“We will have full analysis of household debt situation when bank’s financial systems review is released in May.”
“Reasonably optimistic that the bank’s best-case scenario is still achievable.”
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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