BOC’s Poloz: Need to be ready for the use of additional tools with rates so low

BOC Governor Poloz continues to address the Q & A session, this time speaking on the monetary policy.

Key Headlines:

Uncertainty we saw during October rate decision is still present, 

We need to still monitor that uncertainty

Release of current account data should help bring things into focus for us; will have something more to say next week

Current situation is fuzzy one.  The more information we get between now and decision day the better

Housing market is healthy in general but very hot in Toronto and Vancouver

We have had a little bit of cooling off that seemed to begin before rule changes

Given we start with rates at 0.5%, need to be ready for possibility of additional tools

Unconventional measures are not put away those tools remain in there

Need to be ready for whatever the next shock may be