Bank of Canada surprises with dovish tilt after holding rates

(Adds Poloz comment on unconventional tools, paragraphs 9-10)By Andrea Hopkins and Leah Schnurr Oct 19 The Bank of Canada cut its growth
forecast on Wednesday and said it actively discussed adding more
monetary stimulus to speed up the nation’s economic recovery,
surprising financial markets by shifting tone dramatically after
its initial rate decision.Citing a looming slowdown in Canada’s long housing boom and
a weaker outlook for exports, Bank of Canada Governor Stephen
Poloz said the central bank had considered easing monetary
policy but was held back by global uncertainty.Poloz revealed the stimulus discussion in his opening
statement to reporters more than an hour after publication of
the rate decision, wrong footing financial markets that were not
expecting the dovish shift.”If you look at the press release at 10, that had a very
balanced tone and you would have said ‘Okay, day over, nothing
to see here.’ And …