Bank of Canada's Poloz says the BOC is mostly preoccupied with near term downside risks to oil
- Need to allow for $40 in oil if case occurs
- Bank must allow for possibility of lower oil prices
- Suppliers finding many ways to cut costs
- It looks like we took out appropriate insurance amount
- Oil prices very close to January assumptions
- Biggest risk is if the US is stronger than expected
The comment on "insurance amount" points further to a hawkish stance from the BOC
