Poloz on inflation target:

  • The inflation target as we know it has served us extremely well, the bar is high to change it
  • The BOC has simply opened research on target rate
  • We have learned the zero bound may not be as hard as we thought in theory
  • Believe it's premature to discuss mandate, won't be dealt with in a year from now
  • Biggest uncertainty we face: is the oil shock over or do we still have further to fall
  • Numbers have picked up this year
  • US hard to read at the moment, not offering a new forecast today
  • US labor market indicators remain very solid

He's taking media questions