BOC Carney

•  HOUSEHOLD CREDIT GROWTH WILL SLOW IN CANADA
•  CANADA CONSUMER FUNDAMENTALS STILL PRETTY STRONG
•  CANADIAN CONSUMPTION GROWTH WILL SLOW 
•  SUCH A FAILURE WOULD BE MAJOR EVENT FOR CANADA
•  CARMAKER FAILURE IN DETROIT WOULD AFFECT CANADA
•  OUTLOOK FOR REAL ESTATE LESS ROBUST THAN BEFORE
•  CURRENCY MOVEMENT WILL OFFSET SOME SLOWDOWN
•  GLOBAL RECESSION HAS IMPLICATIONS FOR CANADA
•  WE EXPECT A GLOBAL RECESSION
•  SOME FURTHER STIMULUS MAY BE REQUIRED BY BOC
• WE HAVE MOVED POLICY AGGRESSIVELY
•  GROWTH WILL PICK UP LATER IN 2009
•  RECESSION IS A POSSIBILITY IN CANADA
•  BOC WILL ALWAYS DO WHAT WE THINK IS NEEDED

Comments are certainly more concerning for the Canada economy and has led to higher USDCAD.  Canada relies on US growth for export gains.  The lower CAD will help exports but the demand needs to be there to truly benefit.  That is not expected. It is expected that the BOC will continue to cut rates to stimulate domestic demand in the face of the economic slowdown. 

•  CANADIAN BANKS CLOSER THAN OTHERS ON G-7 PROPOSALS
•  CAN MAINTAIN INFLATION AT 2 PERCENT
•  INFLATION ELSEWHERE WON'T DERAIL PRICES IN CANADA
•  POLICY MAKERS SHOULDN'T DISCUSS VALUE OF CURRENCY
•  50 BASIS POINT MOVES ARE NOT STANDARD
•  AGING POPULATION MEANS LESS GROWTH FROM LABOR
•  PRODUCTIVITY HAS TO ACCELERATE TO MAINTAIN GROWTH
• CAR PRICES IN ONE-TIME DROP DUE TO CURRENCY GAIN
• SAYS FOOD PRICE INFLATION IN CANADA VERY MUTED'