Does Poloz have something up his sleeve
Today is Bank of Canada Governor Stephen Poloz's penultimate meeting as leader and the market doesn't have much visibility on what's coming. On rates, they're at the BOC's lower bound of 0.25%. In theory they could cut another 15 bps but they didn't do that in the financial crisis and no economists are looking for it today.
The more-interesting space is non-conventional policy. The BOC launched QE last month with a $150B program but could roll out more today, try yield curve control, change forward guidance or tweak the assets it purchases. The current program is for buying C$5B per week.
