BRIEF-Bank of Canada's Poloz speaks in Prince Edward Island

Tue May 19, 2015 2:01pm EDT
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May 19 (Reuters) -

* Bank of Canada's Poloz: all we've done is open up research agenda on changing inflation target

* Bank of Canada's Poloz: inflation target regime as we know it today has served us extremely well, bar is high to change it

* BoC's Poloz: part of consideration would be what are risks you face in terms of ability to withstand shock at those zero lower bounds

* BoC's Poloz: we have learned the zero lower bound may not be as hard as we thought in theory

* BoC's Poloz: open to discussions from academics, other central banks and ourselves as to what is truly optimal

* BoC's Poloz: at this stage really believe it's premature to discuss this, work will not be done in a year from now

* BoC's Poloz: encouraged by decline we've seen in costs throughout the energy system

* BoC's Poloz: biggest uncertainty we face is, is the oil price shock over in terms of going down, or still have further to go down   Continued...