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
“Recovery will have a lot of pent-up characteristics to it.”
“Recovery won’t feel like a typical recovery from a recession in its early phases.”
“We aren’t actively discussing other unconventional tools.”
“Other potential tools the bank could use include credit-easing.”
“Toughest part of this environment is to make a forecast about inflation; the shock is hitting supply and demand sides of the economy at the same time.”
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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