Bank of Canada's Governor Poloz Speech reflects the official position of the BoC on the monetary policy and interest rate change trends, therefore every speech is carefully examined by the market participants and analysts.
Stephen Poloz has been the Governor of the Bank of Canada since 2013. Mr Poloz often speaks in public: in addition to regular speeches, he participates in international economic forums, speaks at congresses and conferences, and announces BoC's official statements.
The Bank of Canada Governor is the one who has the maximum influence on the Canadian dollar quotes among all other employees of the Bank of Canada and the country's supervisory bodies. The Governor has access to the full information on the intentions of the BoC Governing Council on monetary policy. Therefore, his statements are often carefully monitored by analysts and economists.
If Poloz's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term effect on the Canadian dollar quotes. If Poloz positively characterizes the country's labor market or states the inflationary growth, this can be seen as positive for CAD quotes.