BOC Governor Stephen Poloz says as COVID-19..>

CANADA: BOC Governor Stephen Poloz says as COVID-19 evolves, BOC is 

ready to adjust monetary policy further.

- BOC will closely monitor economic and financial conditions, in 

coordination with G7 central banks.

- The downside risks to the economy are more than sufficient to outweigh 

BOC concerns on financial vulnerabilities. 

- There are risks that business and consumer confidence will erode 

further, creating a more persistent slowdown.

- Declining consumer confidence would reduce housing activity; lower 

interest rate help to stabilize housing market.

- World commodities' prices dropped more than 10%; important channel for 

transmitting global shocks to Canadian economy.  

- Labour market remains key source of Canada's resilience. 

- Canadian outlook is weaker now than it was in January. 

- Apart from temporary factors causing 4Q decline, economic growth was 

below 1% on weak exports and business investment and moderated recovery 

in housing.

- 2020 1Q is expected to show slowed economic growth; with the 

probability of affecting 2Q also.