BRIEF-Bank of Canada's Poloz: economic positives will dominate in 2016

Tue Dec 15, 2015 12:49pm EST
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Dec 15 (Reuters) - Bank of Canada's Poloz holds a press conference following the release of the Financial System Review.

* BoC's Poloz: there has been some negative data since two weeks ago but also some positive data, including housing

* BoC's Poloz: economic positives will dominate in 2016

* BoC's Poloz: there remain quite a number of possible ways for authorities to adjust mortgage and financing rules to reduce housing and debt vulnerabilities

* BoC's Poloz: any housing price decline in Vancouver or Toronto should not affect housing markets elsewhere; would be primarily a local phenomenon

* BoC's Poloz: any U.S. Fed rate hike would be in context of a solid U.S. economy, which is important for Canadian exports

* BoC's Poloz would expect to see Canadian bond yields rise if Fed raises rates; that would be taken into account in BoC's economic forecasts in January

* Bank of Canada's Wilkins: Canada doesn't have the same fundamentals that led to the U.S. housing crash in 2007

* Poloz: effects of BoC's two rate cuts this year are still working through the system, along with the positive effects that there are of lower prices   Continued...