Following the Bank of Canada's decision to lower its policy rate by 50 basis points to 0.25%, Governor Stephen S. Poloz is delivering his remarks on the policy outlook.

Key takeaways

"Governing Council stands ready to take further action."

"Actions today lay the foundation for long-term growth."

"Current level of rates is lower bound and negative rates could be negative for financial markets."

About Stephen Poloz (via bankofcanada.ca)

"Stephen S. Poloz was appointed Governor of the Bank of Canada, effective 3 June 2013, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank and a member of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both the BIS Audit Committee and the Consultative Council for the Americas."