Stephen Poloz, governor of the Bank of Canada, made the following statement:
- There is no predetermined path of interest rates, here we depend on economic data.
- Monetary stimulus in 2015 is no longer needed.
- We will watch developments in financial markets, including long-term interest rate movements and the exchange rate.
- It is difficult to know the appropriate course of interest rates because of the uncertainty surrounding inflation expectations.
- The economy has made significant progress, but we can't be sure how long it may continue or remain.
- Recent economic data clearly indicate that the economy to grow moderately in the second half of the year.
- The Bank of Canada will monitor economic capacity, the impact of technology on inflation, wage growth, and household debt.
- Business investments has been strong in all areas during the first half of the year.
- Confident of economic progress, but we can't be sure how far that will be.
- The economic progress we have made tells us that the easing policy we adopted in 2015 was the right thing to do.
- We will continue to deal cautiously with the situation, promote economic growth and maintain the inflation target.
