Poloz answers questions in the House of Commons:

Watch Poloz live here (it's FINA meeting 15).

  • Fiscal action would have much more power than monetary policy now
  • We put a very low risk of inflation overshooting target sooner than expected
  • We believe our markets would function more-or-less normally at rates as low as -0.50%
  • We could also use quantitative easing
  • Our current view is that no further policy easing will be needed
  • Which combination of tools we could use depend on the situation
  • Distortions over time under negative rates could increase
  • The potential for an inflation target above 2% is a 'live' issue, bar very high
  • European growth has been slow but there are some encouraging signs
  • I'm seeing a broad, global trend in economic improvement
  • Lower oil prices 'unambiguously' negative for Canadian economy

BOC Deputy Wilkins is also there:

  • Inventories, autos and exports were skews to Q1
  • Latest export data 'wasn't that great'
  • We continue to look at the housing market 'very closely'