Coming up at 1745GMT on 21 February 2019, BOC Gov Poloz speech
After his prepared speech there'll be a press conference
Preview via Scotia:
- His remarks will be available at 12:35pmET
- his topic "monetary policy, its power to improve economic performance, and the scope of its effectiveness" which is a bit more expansive than BoC guidance that he will speak about monetary policy
- Poloz has repeatedly emphasized that monetary policy is no cure-all and best serves the economy and markets through targeting low and stable inflation.
- The hook … could well be to expand upon his prior guidance that if global protectionism becomes ingrained in the outlook, then it could reverse decades of disinflation that was partly due to trade liberalization and that the BoC's role in a less favourable environment of rising prices would be confined to enforcing its inflation target
- Broader messaging is expected to reinforce the BoC's position -and ours- that Canada is presently in a soft patch driven by factors such as prior NAFTA uncertainty, B-20 and last Fall's oil price weakness but that a rebound is expected.
