BoC's Macklem: Would be concerned if wage growth were to run well ahead of productivity

Bank of Canada (BoC) Governor Tiff Macklem is delivering his remarks following the bank's decision to leave the policy rate unchanged while lowering the weekly net purchases of Canadian government bonds to a target of C$2 billion from C$3 billion.

Key quotes

"If C$ were to move higher than we forecast would put more competitive pressure on exporters."

"If we saw wage growth running well ahead of productivity that would be a concern, not seeing it yet."

"Our outlook is not really that different from the one we issued in April."