Poloz speech: Stronger CAD reduces our competitiveness in international markets

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Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins are now delivering their remarks on the monetary policy outlook following the Bank of Canada’s decision to leave the policy unchanged at 1.75%. Below are some key takeaways, per Reuters.

“We always take account of Canadian dollar as prime ingredient in our forecast, as CAD strenghtens it reduces our competitiveness in international markets.”

“Central banks all make their own policies based on own situations.”

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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