Poloz Says Bank of Canada Actively Discussed More Stimulus

Bank of Canada Governor Stephen Poloz said the central bank “actively” discussed the possibility of adding more stimulus into the economy.

In an opening statement during his press conference in Ottawa following a rate decision, Poloz indicated that the increased amount of uncertainty kept them from altering course.

“Given the downgrade to our outlook, Governing Council actively discussed the possibility of adding more monetary stimulus at this time, in order to speed up the return of the economy to full capacity,” Poloz said in his opening statement. “However, we identified a number of significant uncertainties in the current context that are serving to widen the zone of balance within our risk-management framework.”

He cited the effects of the new mortgage rules, path of exports, new fiscal measures and the effects of the US election on business confidence.

In the press conference, Poloz said the bank was not yet “dead certain” and therefore left rates unchanged.

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