Bank of Canada (BoC) news

The Bank of Canada (BoC) Governor Stephen Poloz said on Tuesday that he hopes Canada's economy bounce back in the second quarter. The central bank forecasted a zero growth in the first quarter.

"The Canadian rebound hasn't been as quick as we'd like, but recent data have been encouraging," Poloz said.

He noted that there is uncertainty about the country`s outlook due to recent increase in oil prices and the strong Canadian dollar. But he added that the Canadian economy is on track to return to full capacity around the end of 2016.

The BoC governor hopes to see more business investment.

Poloz pointed out that the January interest rate cut is working.

The Bank of Canada (BoC) Governor Stephen Poloz testified before the House of Commons Standing Committee on Finance in Ottawa on Tuesday. He noted that Canada's economy is "doing well" outside of the energy sector, supported by stronger U.S. demand for non-energy exports, the weaker Canadian dollar and interest rate cut in January.

Poloz expects that the Canadian economy starts to grow in the second quarter.

"Our outlook is for the positives to begin to reassert themselves during the second quarter, and to do so clearly in the second half of the year," the BoC governor said.

Poloz pointed out that impact of falling oil prices on Canada's economy is happening faster than the central bank expected.

The Bank of Canada Governor Stephen Poloz expects that Canadian economy starts to grow in the second quarter, benefiting from low oil prices.

"Starting in the second quarter we think the positives will be more important than the negatives and certainly in the second half of the year the shock should be fully behind us," Poloz said on Friday.

The Bank of Canada (BoC) Governor Stephen Poloz said at the Bloomberg Americas Monetary Summit in New York on Monday that the further interest rate cut by the BoC is not needed.

"That amount seems to be about right to restore our track for the Canadian economy for the next year or so and get the output gap to close late in 2016," Poloz noted.

The BoC governor described a shock January interest rate cut as "insurance". The BoC lowered its interest rate to 0.75% from 1.0% on January 21 due to falling oil prices.

Poloz also said that the U.S. economy will expand stronger than expected, and that interest rate hike by the Fed will have a positive impact on the Canadian economy.

The BoC governor hopes that Canada's interest rate would be "normalized" by 2016.

The Bank of Canada (BoC) Governor Stephen Poloz said in an interview with The Wall Street Journal on Sunday that the further interest rate cut by the BoC is not needed.

"We've got the right monetary policy," Poloz noted.

The BoC governor described a shock January interest rate cut as "insurance".

Poloz also said that demand in machinery equipment and building materials from the U.S. increased.

The Bank of Canada (BoC) announced its interest rate decision on Wednesday. The BoC kept its interest rate unchanged at 0.75%. This decision was expected by analysts.

Canada's central bank said that the consumer price inflation is 1.0% due to falling energy prices, while the core consumer price inflation is close to 2%.

The BoC noted that the economy has stalled in the first quarter of 2015. The economy is expected to expand at about 2.5% on a quarterly basis in the second quarter until the middle of 2016.

The central bank expects real GDP to grow at 1.9% in 2015, 2.5% in 2016, and 2.0% in 2017.

The central bank also said that risks to the outlook for inflation are now balanced and risks to financial stability are evolving as expected.

The BoC decided that the current monetary policy remains appropriate.

The Bank of Canada (BoC) Governor Stephen Poloz defended the central bank's interest rate cut in London on Thursday. He said that interest rate cut was needed to deal with falling oil prices. Oil is Canada's top export.

Poloz noted that falling oil prices weighed on the economic growth and the interest rate cut has given the central bank time to monitor the situation.

The BoC governor pointed out the central bank will continue to follow its monetary policy to achieve its 2% inflation target.

The Bank of Canada (BoC) announced its interest rate decision on Wednesday. The BoC kept its interest rate unchanged at 0.75%. This decision was expected by analysts.

Canada's central bank said that the nation's economy "the current degree of monetary policy stimulus is still appropriate".

The BoC pointed out that "the risks around the inflation profile are now more balanced".

The central bank expect a negative impact from lower oil prices to appear in the first half of 2015.

January's interest rate cut eased financial conditions in Canada.

The BoC lowered its interest rate to 0.75% on January 21, 2015, down from 1.0%. That was the first interest rate reduction since April 2009.

The Bank of Canada (BoC) Governor Stephen Poloz rejected on Tuesday that he has been talking down the Canadian dollar. He added that the decline of the loonie depends on Canada's economy.

The BoC governor noted that oil prices are responsible for the performance of the economy.

The Canadian dollar fell 3.2% since interest rate cut by the Bank of Canada on January 21. The central bank lowered its interest rate to 0.75% from 1.00%.

Poloz pointed out that the further interest rate cut will depend on the economy's fundamentals.

The Bank of Canada Governor Stephen Poloz said today that falling oil prices are negative for the Canadian economy.

He added that falling oil prices reduce Canada's income, "and investment and employment in the energy sector are already being cut".

The Bank of Canada (BoC) released its interest decision on Wednesday. The BoC lowered its interest rate to 0.75% from 1.0%. That was the first interest rate reduction since April 2009.

The BoC's interest rate had been at 1.0% since September 2010.

The central bank said that it responded to falling oil prices which will be negative for growth and inflation. Crude oil prices dropped more than 55% since last June.

"The oil price shock increases both downside risks to the inflation profile and financial stability risks", the central bank noted.

The BoC also cut it growth forecasts. Canada's economy is expected to grow by 1.5% in the first half of 2015, down from its previous estimate of 2.4%. The growth for 2015 was lowered to 2.1% from 2.4%.

The central bank expects to reach full capacity to the end of 2016.

Inflation is expected to be below the BoC' target range of 1 to 3% for most of 2015.

The Bank of Canada released its Business Outlook Survey on Monday. The survey showed that business sentiment in Canada has remained positive, but falling oil prices have a negative impact on the outlook for companies tied to the energy sector. Sales are expected to grow at a slightly faster pace in 2015, the report said.

According to the report, "firms anticipating a positive impact from the U.S. economic recovery are more optimistic than others".

The Bank of Canada Governor Stephen Poloz said today in a speech in New York that it will take two years "before the Canadian economy returns to steady growth". But he added that it is impossible "without vigorous and innovative financial intermediation".

Poloz noted that "global regulatory reform was absolutely essential".