BOC Governor Poloz Press Conference..........>

CANADA: BOC Governor Poloz Press Conference Highlights

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-"We had a bias towards moving before bringing the virus analysis into

consideration," on evidence of persistent hit to confidence after weak growth in

Q4 2019 and Q1 2020.

-Poloz said policy coordination now is as strong as he's ever seen, with a

"shared understanding" of global risks. Some central banks and fiscal

authorities have different levels of room available to act.

-Poloz cut 50bps Wed, said "it's important if possible to get out in front" of

virus damage, similar to Canada's 2015 oil slump. Moving faster/larger can

change behavior.

-BOC to study usual data when determining if another move needed, within

inflation framework and looking at risk management considerations.

-Asked how fast BOC may hike as virus fades: "It will depend on what the

forecast for inflation is, what the economy is doing at the time. I simply won't

front-run that."