The BOC comments include:
- Current considerable stimulus will likely remain appropriate for a period of time, after which some modest withdrawal will be likely
- See Q1 growth stronger than projected in April but for year as a whole broadly in line with forecast
- Maintains projection of total/core inflation remaining subdued but gradually rising to 2% by mid 2015
- Notes core inflation in line with April forecast, total inflation slightly weaker
- Repeats consumer spending to grow moderately, says business investment to grow solidly
- Total household credit growth slowing, repeats debt/income ratio to stabilize near current levels
- Exports to keep recovering but will be restrained by persistent CAD strength, subdued foreign demand and other challenges
- Global growth has evolved largely as forecast in April; still sees modest growth in 2013 before strengthening 2014-15
