Left rates unchanged
- BOC is more preoccupied With downside risks to inflation
- Canada economy to keep growing at above potential pace
- Recent history is of inflation running below target
- Production is close to estimate of full capacity
- Will take time to understand household debt dynamics
- Find economy is likely to respond more to higher interest rates at today's debt levels than historically
- Economy may generate more noninflationary growth
- NAFTA risk his outsider projection
- if something happens in NAFTA context could take some time before it's implemented