BOC’s Poloz starts his arm flapping: We remain fully data dependent

Bank of Canada governor starts speaking

• Data dependence is illustrated very aptly today
• NAFTA is a big unknown
• There’s no unambiguous pre-calculation one can do about how it will affect the economy
• If economy was completely back to normal, arguably somehwere in the neutral zone is where rates would be but it will be sometime before we can get there

USDCAD is hovering around 1.2466

• We need to be prepared for a new shock
• Our vulnerability to such shocks has grown
• We have more room than we did a year ago
• With the economy in good health we are confident we can continue to build on this

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Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here

Latest posts by Ryan Littlestone (see all)

• The last NFP competition of 2022 - December 1, 2022
• Will this month’s US NFP be a horror show? - October 4, 2022
• US NFP competition – Do you think there’s going to be a turn in the US jobs market? - August 31, 2022