Data dependent in both directions
Poloz adds:
- right now we believe this setting of rates will give us positive outlook, that growth picks up in Q2 and gathers pace in Q3
- if everything turns out perfectly, there is no rush to get back into the saddle as regards rate hikes: need time to see what data shows
- expects to see markets react 1st of positive data: if another negative came along, we have to think about that again
- we are data dependent in both directions
- Housing has most question marks around it (Wilkins adds that global trade also has questions around it).
