Comments from Poloz in a parliamentary committee
- Will evaluate appropriate degree of policy accommodation (repeats guidance)
- Housing should return to growth this year
- It's possible the BOC's estimate of the neutral rate could be increased again one day
More to come over the coming hour.
The BOC is sand bagging on its 1.2% annual forecast this year but even if it surprises to the upside, I don't think they will hike rates. That will simply remove the pressure for them to cut.
Wilkins:
- Sees wage growth picking up from current levels
- Decision to begin buying mortgage bonds is a balance sheet issue, not QE
