Poloz speech: Some of downside risks identified in October have clearly landed

Bank of Canada (BoC) Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins are now responding to questions from the press following the BoC's decision to leave the policy unchanged at 1.75% in January. 

Key quotes

"Some of the downside risks identified in October have clearly landed, sense of whether we need easing are obviously present in the analysis."

"If we have a rate cut in future it would not be a cut against a hypothetical or a possibility."

"Mortgage stress tests have done a very good job of protecting the system."

"Maybe there are some desirable tweaks that could be made to stress tests."

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."