Poloz opening statement highlights
- Rates are "tres dependent" on evolving outlook
- Notes lower oil prices
- Inflation would be at 1.8% without temporary factors
- Weak inflation has triggered a 'lively debate' globally
- Our projection shows modest overshoot of inflation target in 2019
- Full text of the opening statement
"Taking together the approaching closing of the output gap and our understanding of recent soft inflation readings, today's increase in interest rates is clearly warranted. That being said, we will of course monitor the details of inflation carefully to determine the extent to which it remains appropriate to look through fluctuations in inflation."
