BoC press conference: Governor Poloz's remarks on monetary policy - Live

In a press conference following the interest rate decision, Bank of Canada (BOC) Governor Stephen Poloz is expected to give his remarks on the monetary policy implementation at 15:15 GMT at the National Press Theatre. 

The Bank of Canada on Wednesday decided to raise its target for the overnight rate to 0.75% as recent data have bolstered the Bank’s confidence in its outlook for above-potential growth and the absorption of excess capacity in the economy.

Key notes:

BoC: Recent softness in inflation is temporary

In its statement, the Bank acknowledged recent softness in inflation but judged this to be temporary. Read more

USD/CAD in fresh 2017 lows post-BoC, near 1.2850

The Canadian Dollar is gathering further steam today, now dragging USD/CAD to fresh lows in the 1.2860/50 region. Read more

About Stephen Poloz

Stephen S. Poloz was appointed Governor of the Bank of Canada, effective 3 June 2013, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank and a member of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both the BIS Audit Committee and the Consultative Council for the Americas.