Here is Poloz word-for-word:
"It is fair to say, therefore, that our deliberations began with a bias toward further monetary easing. The likelihood of new fiscal stimulus was an important consideration."
Translation: We were going to ease but someone across the street at Parliament told us that the Federal government is going to deliver a stimulus package.
To be fair, he also mentioned the weak Canadian dollar's effect on the economy and inflation as well and said he didn't know what the stimulus would be.
Overall, the action and rhetoric from the BOC is less dovish than expected but the risk is that he's starting to be seen as clueless to the forces and shock that hitting the Canadian economy.
