Today is new Bank of Canada Governor Stephen Poloz’s first day on the job and he will quickly be thrown into the fire. The BOC announced hewill make his first comments on Thursday.
Update: the original report said Wednesday; it’s Thursday, June 6.
Carney’s successor is speaking House of Commons Standing Committee on Finance for about two hours at 1245 GMT (8:45 am ET). His opening statement will be published at 1245 GMT.
Traders have an inkling Poloz will be more dovish than Carney and that could weigh on the Canadian dollar but his views are almost entirely unknown. It’s very easy for a rookie central bank leader to slip up and send the wrong signal to markets so the appearance is a major risk for the Canadian dollar.
Stephen Poloz