Comments from Bank of Canada Governor Poloz on Saturday

  • Risk to global economy are skewed by trade, monetary policy remains data dependent
  • Can't make policy decisions on hypothetical policy or theoretical responses
  • Inflation to be boosted by tariffs but likely to be temporary

I don't think this is anything to stop the Bank of Canada from hiking in July but the statement may not have been so hawkish if Poloz knew tariffs were coming.