- "What we are trying to do is to manage the risks we face, not eliminate them," says Bank of Canada Governor Stephen Poloz in the bank's last public comments before its March 4 policy meeting.
- He calls January's surprise cut an insurance policy against too-low inflation and the financial instability posed by high household debt. 'The sudden drop in global oil prices has increased both risks," he adds.
- What Poloz didn't do at this speech was signal another rate cut is in the cards, and markets - pricing in a 75% chance of another cut - are scrambling.
- The loonie (NYSEARCA:FXC) pops more than 100 pips higher, now up 0.5% on the session at $0.7997. The TSX Composite gives up its gains on the session, now lower by 0.25%.
- ETFs: EWC, CNDA, EWCS, FCAN, QCAN
- Full speech