BoC: Governor Poloz’s remarks consistent with an Oct hike - TDS

BoC Governor Poloz’s remarks on CNBC were consistent with his comments of early last week but garnered attention in early Asian trading, notes the research team at TDS.

Key quotes

“We see his remark that BoC needs to be "at least considering that whole situation" as being more consistent with an Oct hike than next month. We expect the output gap to be closed in Q3 and with core inflation measures still not able to form a trough yet, he has time to wait until October meeting to pull the trigger.”