Comments from Poloz in Toronto:
- Says comments do not represent a near-term prediction about the BOC's policy rate
- Rates are likely to fluctuate around historically low levels, cities structural factors such as slowing population growth and productivity growth
- Highly uncertain how combination of low rates, rising debt and technological change will hit households, companies and governments
- Tendency of inflation to run below target in many countries has fostered complacency
The important point is that Poloz emphasized that he's talking about the big picture beyond Canada and that these aren't comments about the current stance.
He will hold a press conference afterwards and will surely be asked about the current outlook. I posted the feed earlier.
