Comments from the Bank of Canada Governor
- Balance of risks is a decline in inflation
- Risk of sustained deflation in Canada is low
- Repeats that 0.25% in effective lower bound
- There has been some improvement in market functioning
- Says today's MPR will be his last (dispelling rumors he might be asked to stay on)
- Corporate bond market continues to show signs of strain
- BOC has so far accumulated over C$200B of new assets, amounting to about 10% of Canada's GDP
- Extending repo program should help banks and lower mortgage rates
- BOC stands ready to augment all programs if needed
