BoC's Macklem: Further adjustments to our QE program will be gradual

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$3 billion from C$4 billion.

Key quotes

"The performance of the economy in recent months has increased our confidence in the underlying strength in the recovery."

"We welcome the recent proposal by the superintendent of financial institutions to introduce a fixed floor to the minimum qualifying rate for uninsured mortgages."

"Further adjustments to our QE program will be gradual, and we will be deliberate both in our assessment of incoming data and in the communication of our analysis."