Poloz speaks the the press
- We are getting to a more resilient situation on housing
- Underwriting of mortgages has improved considerably
- Less need for stimulus if BOC forecast holds up
- Reason for recent slowdown mostly energy
- Data is a bit of a mix but also includes encouraging signs
- Hosuehold sector has been weaker than expected
- Rates have been on hold because of mixed data messages
That's an interesting comment on energy. I don't see a pickup in Canadian oil even if oil rises another $10 but if it gets over $70 then it could reverse.
