Speaking on Bloomberg Television
- Effect of oil shock mostly behind Canada
- reiterates the Bank of Canada will be cautious about tightening
- less monetary stimulus will likely be appropriate
- The link between inflation and slack still intact
- Inflation is always important; it's our only target
- wage growth is lagging expectations globally
- Slack in Canadian labor market means slower wage rises
- importance of data surprises to policy decisions depend on source of surprise
- Canadian businesses are being more cautious about where they invest
- NAFTA uncertainty is clearly affecting businesses; There are too many future possibilities to factor into policy right now
- As Canadian economy improves wages should start to rise
- Increase in household debt is a factor in our decision
- Crypto currencies are assets not currencies
- it's a bit too early to ask Bank of Canada leadership question
The USDCAD has dipped back below the 100 bar MA on the 4-hour chart at 1.2772 on the comments.
