June 11, 2015 / 3:29 PM / 3 years ago

BRIEF-Bank of Canada says rate cut reduced downside inflation risk

* Bank of Canada’s Poloz: January rate cut reduced downside risk to inflation

* Bank of Canada’s Poloz: rate cut helped mitigate risk to financial system by addressing drop in income and jobs caused by oil price shock

* BoC’s Poloz: effect of cheap oil on incomes should be partly offset by cheaper gas, stronger U.S. growth, lower C$, impact of easier monetary policy

* BoC's Poloz: probability that a sharp correction in house prices will materialize remains low; not seeing conditions that would lead to severe recession and steep rise in joblessness Source text for Eikon: (here) Further company coverage: (Reporting by Randall Palmer and David Ljunggren; Editing by Jeffrey Hodgson)

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