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Bank of Canada hints more stimulus

USDCAD News by Newsroom on 16:39 Octuber 19, 2016 EST

Bank of Canada Governor Stephen Poloz said on Wednesday the central bank "actively" discussed the possibility of adding more stimulus into the economy at its last meeting "in order to speed up the return of the economy to full capacity". The Canadian dollar and short-term bond yields slid, reversing course after.

Mr. Poloz said the interest rate at 0.5 percent is appropriate, albeit at a time of heightened uncertainty.

The loonie weakened 0.1 per cent to $1.3123 against the U.S. dollar reversing a previous rally ahead of Poloz remarks.

The fall was cushioned by a surge in crude oil, Canada's second-largest export, after it was reported that U.S. crude inventories unexpectedly fell last week.


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