Poloz speech: Very little purpose in operations aimed at lowering longer-term interest rates

Following the Bank of Canada's decision to keep its policy rate unchanged 0.25%, Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins are responding to questions from the press.

Key takeaways

"With 10-year yields sitting at 0.75% and economy turned off, very little purpose in operations aimed at lowering longer-term interest rates."

"Those kinds of deliberations can wait until another day."

"Strain in credit markets is better than it was three weeks ago."

"Wouldn't pretend conditions in markets are particularly functioning better than they were."

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."