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- Highlights from Stephen Poloz speech
Highlights from Stephen Poloz speech
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Loading...- Inflation is doing well, but requires a dose of tolerance, and we will have to comply with it.
- The economy will need less and less monetary incentives over time
- Core inflation is within the target range
- Bank Of Canada will follow the economy growth and, at the earliest opportunity, will adjust interest rates to an increase.
- The perception that inflation has become unexplained is much exaggerated
- The fall in oil prices has helped a lot for low inflation in the country, but the prospects that are being discussed by OPEC members and other producers make us optimistic.
Market Reaction: During the speech, investors absorbed BoC intentions to raise interest rates, and CAD picked up with a 20 pips increase over the USD.
Given the Bank of Canada determination, we remain bullish on the Canadian, with any improvement in the country economic performance going through the Central Bank prism, which aims to raise the key rate and cut the program for quantitative easing.
Jr Trader Petar Milanov
Varchev Traders Read more:
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