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Poloz: BOC believes higher rates will be needed
Added at 11:17am
Added at 11:19am
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Monetary Policy Report Press Conference Opening Statement
Good morning. Senior Deputy Governor Wilkins and I are pleased to be here to answer your questions about today’s interest rate announcement and our Monetary Policy Report (MPR). Before taking your questions, let me offer some insight into Governing Council’s deliberations. Our discussion began with the big picture: inflation is on target and the economy is operating close to capacity. Our outlook published today is that this situation will continue. Governing Council believes that higher interest rates will be needed to keep inflation on target, and that is consistent with our actions today. Monetary policy is, ... (full story)
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