15 Jul 2015
BoC Poloz says QE is among bank’s tools
FXStreet (Córdoba) - Bank of Canada Governor Stephen Poloz said that quantitative easing is among tools the bank could potentially use if needed. However, Poloz noted that their expectation is that the BoC won't need to use other monetary policy tools.
The BoC decided to cut the main rate by 25 bps to 0.50% on Wednesday citing economy slowdown. At a press conference following BoC decision, he said there is “no doubt” Canada had a mild contraction in H1.
Poloz said facts have changed quickly over the last months, with oil investing falling 40% versus 30% estimated, while the BoC had expected oil prices would rebound. He added that they were quite surprised that after weather improved non-energy exports failed to improve.
The BoC decided to cut the main rate by 25 bps to 0.50% on Wednesday citing economy slowdown. At a press conference following BoC decision, he said there is “no doubt” Canada had a mild contraction in H1.
Poloz said facts have changed quickly over the last months, with oil investing falling 40% versus 30% estimated, while the BoC had expected oil prices would rebound. He added that they were quite surprised that after weather improved non-energy exports failed to improve.