Given these positive surprises, and because
monetary policy must be forward - looking to achieve our inflation target, Governing Council's
discussions focused on three main issues: first, the extent to which recent strength is signalling stronger economic momentum in Canada and globally; second, how heightened levels of uncertainty, particularly
about US tax and trade
policies, should be incorporated in our outlook; and third, how much excess capacity the economy currently has, and the growth rate of potential output going forward.
Asked
about the move to reveal the rate cut
discussion only after the rate decision was released, a spokeswoman for the central bank said Poloz's open statement to reporters is designed to fill the gap between the quarterly
monetary policy report and press release announcing the rate decision.