Poloz speech: Monetary and fiscal policy responses to provide a bridge to normalcy

Following the Bank of Canada's decision to lower its policy rate by 50 basis points to 0.25% on Friday, Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins are delivering their remarks on the policy outlook and responding to questions from the press in a teleconference.

Key takeaways

Poloz: "Tools government has announced, in particular income support for those not previously supported by unemployment insurance, is an important safety net for the economy."

Poloz: "One aim of monetary and fiscal policy responses is to provide a bridge to normalcy."

Poloz: "Lauding commercial banks for allowing mortgage deferrals and keeping credit lines to businesses open."

About Stephen Poloz (via bankofcanada.ca)

"Stephen S. Poloz was appointed Governor of the Bank of Canada, effective 3 June 2013, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank and a member of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both the BIS Audit Committee and the Consultative Council for the Americas."