# Monetary Policy Report Press Conference Opening Statement - Bank of Canada

> Bank of Canada Governor Stephen Poloz said on October 30 that the worsening global situation was the primary concern, with economic forecasts marked down in most countries due to trade escalation. He warned that tariffs and trade restrictions permanently reduce potential output and raise consumer prices. The bank held its policy rate at 1.75%.

- Date: 2019-10-01 · published 2019-10-01T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/56795-monetary-policy-report-press-conference-opening-statement-bank-of-canada
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker global growth expectations from trade escalation point to softer demand for commodities and feed, with a stagflationary risk that complicates central bank responses.

## Read by commodity

- USDCAD: neutral

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2019/10/opening-statement-301019/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.