April 13 (Reuters) -
* Bank of Canada's Poloz, asked if would have cut rates
without fiscal stimulus, says situation without fiscal shock
would have looked worse than in January
* Bank of Canada's Poloz: would have gone into meeting with
same bias as in January, had stimulus not been there
* BoC's Poloz: mix of policies we have today is more
favorable one for economic growth than we had before
* BoC's Poloz: window of when will close output gap highly
subject to change
* BoC's Poloz: bank views reasonably in line with Finance
Department's estimate of fiscal multiplier effect of stimulus
* BoC's Wilkins: the reason bank boosted forecast for china
is measures taken by China's government that will result in more
infrastructure investment
* BoC's Poloz: driving force for Canadian economic growth is
primarily recovery in United States
* BoC's Poloz: have seen accumulation of positive evidence
export sector is responding; C$ is at best icing on cake
* BoC's Poloz: if for some reason we were in disagreement
with budget analysis, we would say so
* BoC's Poloz: we think Finance Ministry's numbers are
reasonable
* BoC's Poloz, asked if higher C$ poses risk to economic
rotation, says if we have C$ that's couple of cents lower or
higher, is all rounding from exporters' point of view
* BoC's Poloz: we try to look through C$ fluctuations as
much as we can
* BoC's Poloz: want to make sure momentum of economic
rotation is actually there
* BoC's Poloz: there's no magic number for the C$
* BoC's Poloz: if for some reason outlook were to
deteriorate, would seriously contemplate lowering interest rates
* BoC's Poloz: our risks are two sided, we have capability
of acting in either direction
* BoC's Poloz: we believe all ingredients are present for us
to get back to full capacity in time
* BoC press conference ends
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