(Reuters) - Below are key quotes from an appearance by Bank of Canada Governor Mark Carney in Montreal:
ON CANADIAN MONETARY POLICY AND THE C$
"There is considerable monetary policy stimulus that's being provided every day to this economy, and it is appropriate and necessary. Obviously it has to be the judgment of the governing council of the bank if there's any adjustment to that but it is important. We face major headwinds from abroad. You see our export performance which is the worst ever, certainly the worst since the Second World War. The Canadian export performance is a huge drag on where we could be if we were marking previous typical recoveries. We have headwinds from the persistent strength of the Canadian dollar. We are well aware of that. We have to take all of that into account to calibrate what is considerable monetary policy stimulus - 1 percent interest rates with a well functioning financial system that covers the entire country is a very stimulative monetary policy - but it's there for a reason."
ON MERVYN KING COMMENT THAT RUNNING BOE NOT A ONE-MAN SHOW:
"He's absolutely right, Mervyn, as he is in all things - Mervyn is absolutely right. Look, that institution has tremendous responsibilities. It has responsibilities on monetary policy as the Bank of Canada does, has responsibility in supervising banks and insurance companies, which is a responsibility in Canada for OSFI (Office of the Superintendent of Financial Institutions). And it has responsibility for macro prudential policy, which in many cases is the direct responsibility of the government of Canada. So it has tremendous responsibilities. But each of those responsibilities are discharged by committees of which the governor of the Bank is only one member."
ON BOE MONETARY POLICY:
"Any decision on monetary policy in the United Kingdom is taken by the Monetary Policy Committee, which just met and will meet again when I arrive at the start of July, so those decisions will be taken by that committee and it would be totally inappropriate for me to make any judgment on what those decisions could be."
ON THE CANADIAN HOUSING MARKET:
"There is a coordinated effort between the Bank of Canada, the government of Canada, CMHC (Canada Mortgage and Housing Corporation) and the more enlightened bits of the banking sector and the private sector to ensure that there is an orderly and constructive evolution of household debt, the Canadian housing market, which is exactly what we're seeing. It's an evolution. It's not finished. But it's certainly moving in the right direction. What we have seen in the housing market has been consistent with our expectations."
(Reporting by Leila Lemghalef in Montreal, Louise Egan and Randall Palmer in Ottawa, Solarina Ho, Alastair Sharp and John Tilak in Toronto and Nia Williams in Calgary; Editing by Jeffrey Hodgson)