April 15 (Reuters) - Below are some key quotes from a news conference by Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins on Wednesday after the central bank held interest rates steady.
Link to the opening statement: here
“Three weeks ago there was a lot of volatility in equity markets, at the same time we saw a lot of positioning for quarter end and a lot of portfolio shifts. For that reason there was a lot of tension. At the same time the programs we put in place...served us well because they really helped us unblock some of those markets, and we’ve seen a narrowing of spreads as well as more smooth activity. ...”
“I wouldn’t pretend the conditions - particularly the term markets past one year - are functioning well, better than they were but if we think about our objective to have well functioning markets so that we set the stage for a good recovery and we allow firms and people to have access to credit, then the programs we introduce today will contribute to that.” (Reporting by Moira Warburton Compiled by Denny Thomas)