BOC starts press conference
He adds:
- Canada consumption much softer than expected in Q2
- Consumption-income disparity is bit of a puzzle
- Raised question about deflator with StatsCan
- Policy rates sufficient to offset global risks
- Current policy rate provides sufficient stimulus
- Policy stance consistent with 2 year inflation target
- If excess supply occurs, then rate cut possible
- Iressure on inflation, then it would consider a cut.
- Canada's inflation is very well anchored at 2%
- Says as the trade conflict between US – China drags on, hard to see an immediate resolution
- Suggests tensions could remain at elevated level past US presidential election
