BOC Gov Poloz Q&A: Optimistic for a Nafta agreement in some form

The main points from Bank of Canada Governor's speech earlier are here:

• BOC's Poloz says will continue to raise rates gradually

He is responding to questions now:

• Canada's dependence on US has been trending down over 15 years
• Optimistic we'll reach agreement on Nafta in some form
• CAD correlated with oil prices, US rate differential
• Declines to give a forecast for the CAD
• interest rates need to gradually move higher

Gotta say on this 'Canada's dependence on US has been trending down over 15 years' … if that is some sort of official view that Canada does not need US markets then there is gonna be a very hard rain indeed.

Mr P and his shadows …