Comments from Poloz and Senior Deputy Carolyn Wilkins in the post-BOC decision press conference

Wilkins delivered the opening statement:

  • Adjustment to lower oil prices well underway
  • Fiscal measures important factor in Canadian growth
  • On the non-commodity side of the economy, we have also seen evidence of adjustment, but it has been more uneven
  • Non-commodity exports over the past couple of years have been responding largely as expected to growth in foreign activity and the Canadian dollar
  • We see a number of risks to our inflation outlook. We judge these risks to be roughly balanced. The overall climate, however, is one of heightened uncertainty
  • We expect oil investment reductions to be largely over by year end
  • Full text of the opening statement