Poloz comments to reporters:
- Trend has been a positive one for the labor market
- Asked about insurance rate cut if jobs fell again, said would not look at just employment, would look at other indicators because employment tends to lag
- We're seeing a bottoming out in global economy in most indicators
- Churn in labor market points to better job matches and productivity
- We're expecting statisticians to eventually uncover more productivity
- When rates are low monetary policy is at its most feeble and fiscal policy is at its most powerful
- We expected investment to pick up this year, we started off the year strong then we faltered again
- Inflation on target today suggests that the BOC has done its job
- Basel III has made our banking system far safer
- Uncertainty about NAFTA began to bite almost as soon as Trump was elected
- For me it's about time to do something else
This was the closest thing he came to making any kind of comment about the economy today. The employment numbers are notoriously volatile and Poloz knows that. I'd say he even went a step further and hinted it will take a lot of bad data to spark a rate cut. He has 7 more months on the job and it's clear that he doesn't plan to do anything in that time.
