More Poloz: Every meeting is a live meeting

Still speaking after BOC decision

  • Economy has been extraordinarily strong in first half of the year.  Moderation in second half is welcome
  • reiterates there is no predetermined path for Interest rates
  • every meeting should be seen as a live meeting.  We are data dependence
  • we have to evaluate data as they come in and see if they validate our outlook in real time
  • Bank of Canada needs full budget to evaluate Trudeau tax break

The press conference is now over.
The price of the USDCAD moved to a low of 1.2777 during the press conference. That happened to be the swing high from the month of August. Good hold. The pair is trading to a new high as I type at 1.2812. The swing high going back to September 2016 comes in at 1.28207.  

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