July 15, 2015 / 4:58 PM / 2 years ago

BRIEF-Bank of Canada news conference ends

3 Min Read

July 15 (Reuters) - BoC's Poloz: was quite surprised that after weather improved non-energy exports failed to improve

* Bank of Canada's Poloz: admits that household imbalances will edge higher but best contribution can make is to address the shock

* BoC's Poloz: given what Bank of Canada knew at the time, it did not make the wrong decisions in holding rates


* Energy exports will sort themselves out with more data, but BoC will be studying carefully

* BoC's Poloz: still has fair bit of room to maneuver, others tools in toolkit

* BoC's Poloz: does not believe will have to use other tools in toolkit

* BoC's Poloz: reasonable to expect divergence in policies with U.S.

* BoC's Poloz: if we are disappointed one way or another, we have room to move, and other tools in toolkit

* BoC's Poloz: C$ is below BoC's assumption, partly because of today's rate cut; will have an effect on economy

* BoC's Poloz: federal child benefit checks arriving in next week will have significant effect on consumption

* BoC's Poloz: asked about Canadian banks not passing on full rate cut to customers, he said that's the way the market works

* BoC's Poloz: if BoC's action means credit channels are wide open, "we've done our job"

* BoC's Poloz: forward guidance would normally be the next kind of tool BoC could use

* BoC's Poloz: would normally use forward guidance only in unusual times or at the zero lower bound

* BoC's Poloz: quantitative easing is among the BoC's tools

* BoC's Poloz: BoC's tools can cushion aggregate blow to economy from oil price shock

* BoC's Poloz: wouldn't describe Wednesday's decision as "close"

* BoC's Poloz: central bank's primary mission take precedence over risks to financial stability from housing and debt

* BoC's Poloz: lower C$ will have a positive effect on tourism and on exports

* BoC's Poloz says he finds discussion over whether Canada is in a recession quite unhelpful, says economic troubles are in narrow part of economy

* BoC's Poloz: situation in Greece is delicate, it's been troubling to watch, may contribute to global aura of uncertainty

* BoC's Poloz: there are few linkages between Greek situation and Canada; slowing down in China is more significant

* BoC's Poloz news conference ends Source text for Eikon: Further Bank of Canada coverage: (Reporting by Randall Palmer, Leah Schnurr and Allison Lampert in Ottawa, Editing by Jeffrey Hodgson)

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