October 29, 2014 / 10:09 PM / in 4 years

BRIEF-Bank of Canada Governor Poloz testifies

Oct 29 (Reuters) - Bank Of Canada’s Poloz: Canadian Inflation Is Really Running At 1-1/2 percent when you strip out temporary factors

* Bank of Canada’s Poloz: lower oil prices probably will take 1/4 percentage point off growth in 2015, enough to make him think about it

* Bank of Canada’s Poloz: don’t know whether oil price levels will be sustained

* BoC’s Poloz: better to keep forward guidance tool for a later time when impact would be much greater

* BoC’s Poloz: important to retain perspective, in a much better economic place than two or three years ago

* BoC’s Poloz: C$ had gone up more than models would have predicted, because of decline in US$

* BoC’s Poloz: all currencies have tended to come down against US$ as U.S. economy recovers

* BoC’s Poloz: effect of currency moves not unambiguous, C$ has strengthened against some currencies

* Bank of Canada’s Wilkins: as long as there are headwinds, it may be necessary to maintain monetary policy stimulus, even if inflation is at target

* Bank of Canada’s Poloz: oil prices are not low enough to change the bank’s expectation of continued growth

* BoC’s Wilkins: household debt ratio has reached somewhat of a plateau but still quite elevated

* BoC’s Wilkins: soft landing in housing market remains most likely scenario

* Bank of Canada’s Poloz: U.S. end of quantitative easing is unambiguously a good thing, shows U.S. is gaining traction

* Bank of Canada testimony ends Source text for Eikon: Further Bank of Canada coverage: (Reporting by Randall Palmer, David Ljunggren and Richard Valdmanis in Ottawa; Editing by Jeffrey Hodgson)

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