BoC's Poloz: A potential U.S. fiscal shock would probably have small effects on canada

Bank of Canada's Governor Stephen Poloz is speaking in a press conference, after the central bank decided to keep unchanged the interest rates at 0.5%, stating that a potential U.S. fiscal shock would probably have small effects on Canada, boosting GDP by about 0.1 pct by 2018.

Key quotes (via Reuters):

• Rise in U.S. bond yields, much of which has been imported into Canada, is at odds with Canada's macroeconomic situation
• Previous export model may have put too much weight on developments in U.S. economy
• New economic models predict slower export growth in future than previous model