Back
24 Feb 2015
Bank of Canada Poloz Speech in focus - TDS
FXStreet (Bali) - Bank of Canada Poloz Speech (Tues 24 Feb) will be one of the key events to watch out for, especially after the surprisngly low Canadian retail sales last Friday, resulting in an increase in expectations for another rate cut by the BoC this month.
Key Quotes - TDS
"The topic of Governor Poloz's speech ("Reinventing Central Banking") lends itself to a fuller discussion of monetary policy as an exercise in risk management versus a mechanistic modeldriven exercise. Poloz should stop short of providing any insight into how much insurance the economy needs and instead will emphasize that the Bank will conduct a thorough analysis of how the risks have evolved since January."
"We remain of the view that the Bank will follow through with another 25bps cut in March and while there is a risk that the overnight rate will be cut further from there, we will not know for sure until we can gauge the tone of the communique and receive more economic data."
Key Quotes - TDS
"The topic of Governor Poloz's speech ("Reinventing Central Banking") lends itself to a fuller discussion of monetary policy as an exercise in risk management versus a mechanistic modeldriven exercise. Poloz should stop short of providing any insight into how much insurance the economy needs and instead will emphasize that the Bank will conduct a thorough analysis of how the risks have evolved since January."
"We remain of the view that the Bank will follow through with another 25bps cut in March and while there is a risk that the overnight rate will be cut further from there, we will not know for sure until we can gauge the tone of the communique and receive more economic data."