At the press conference of Stephen Poloz Hawkish, moods prevail. The discussion is entirely focused on the future interest rate hike, but CAD is declining in the first minutes of Polo's statement.
Here are the highlights from the press conference of the Governor of Bank of Canada
- "Polos is of the opinion that salary data is encouraging.
- Canada has made significant economic progress over the past 12 months, but the economy still can not reach full capacity without quantitative easing.
- Interest rates may need to stay below the neutral range - Most likely, this replica has led to a fall in CAD.
- There are still elements of delays in the economy. Household loans, for example, are now down, accumulating higher interest rates.
Following Poloz statement, the likelihood of a rise in interest rates reached only 42.1% at the end of May.
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