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Bank of Canada's Poloz: Some of strong Q1 data a result of temporary and catch-up factors

Comments from BOC Governor Poloz at a House of Commons committee:

  • Some of strong Q1 data a result of temporary and catch-up factors
  • CAD rebound appears to be a shift of expectations on monetary policy in Canada and US
  • "While recent economic data have been encouraging on balance, they've also been quite variable"
  • "We have not yet seen concrete evidence of higher investment and strong firm creation."
  • Canada dealing with 'massive' terms of trade shock
  • Repeats that output gap likely to close in H2 2017
  • The global economy retains the capacity to disappoint further
  • Full statement

The early part of the speech dealt with a recap of the past year in the economy and the collapse in commodity prices. The second part is largely a recap of the BOC's current stance that was outlined in the BOC statement and MPR.

The committee will ask questions for 90 minutes after he reads the statement.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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