Poloz speech: Too early to say whether there could be deflation in Canada

Following the Bank of Canada's decision to lower its policy rate by 50 basis points to 0.25% on Friday, Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins are delivering their remarks on the policy outlook and responding to questions from the press in a teleconference.

Key takeaways

Poloz: "Will announce a true quantitative easing program with set objectives when it is implemented, now seeking to restore market functioning, but two are closely related."

Poloz: "Will not dispute that central bank's liquidity measures look like quantitative easing."

Poloz: "It's early days to say whether there could be deflation in Canada."

Wilkins: "There are still tools in the toolkit, including credit easing and funding for financial institutions to lend to businesses."

About Stephen Poloz (via bankofcanada.ca)

"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."