Senior deputy governor Carolyn WIlkins and Stephen Poloz to speak
Carolyn Wilkins comments:
- monetary policy remains stimulative
- policy rate still negative in real terms
- discussion focused on returning policy rates a neutral
- protectionism is still part of discussions
- core inflation mesh with economy capacity
- "gradual" was dropped to show no mechanical path exists
- case of increases depends on outlook for inflation, risks
- housing rule changes are working to stabilize economy
- trade policy risks for inflation or two-sided
- The USMCA is good news as reduces uncertainty risks for businesses/investment plans
- Says LNG project on West Coast is also good news
- Mortgage rule changes has taken the wind out of the sails of excessive speculation in housing
- housing activity is moderating to a more sustainable level. Reduces chances for painful outcomes for many people down the road
- housing affordability pressures are reduced
- paying close attention to global trade policy. Risk is two-sided.
