BoC's Poloz speech: Were very disappointed in Q1 export data but recent data more encouraging

Bank of Canada (BOC) Governor Stephen Poloz is responding to questions from the press with the key quotes, via Reuters, found below:

• Our forecasts for exports and investment are very, very prudent; tried to take into account uncertainty that's out there
• Were very disappointed in Q1 export data but recent data more encouraging
• We think there's still some room to grow once output gap closes
• BoC's Wilkins: Most people have fixed rate mortgages, won't need to renew them in next year

Key notes:

BoC: Recent softness in inflation is temporary

In its statement, the Bank acknowledged recent softness in inflation but judged this to be temporary. Read more

USD/CAD in fresh 2017 lows post-BoC, near 1.2850

The Canadian Dollar is gathering further steam today, now dragging USD/CAD to fresh lows in the 1.2860/50 region. Read more

About Stephen Poloz

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.