BOC’s Poloz: Interest rates may need to remain below neutral range
Bank of Canada press conference
From the opening statement:
- Deliberations focused on appropriate pace of rate rises
- Recent wage data has been encouraging
- Interest rates may need to remain below neutral range
- Economy not yet able to stay at full capacity on its own
- Canada has made considerable economic progress in the past 12 months
- More room for demand growth within our 2% inflation target
- There are elements of slack in the economy
- Household credit has moderated, which is a sign of the effect of higher rates
These are some dovish comments and USD/CAD is at fresh highs of the day.
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