The Globe and Mail reports in its Wednesday, April 27, edition that Bank of Canada Governor Stephen Poloz has again set a high bar for cutting interest rates. The Globe's Barrie McKenna writes that Mr. Poloz says it would take a "shock of some significance" for the BOC to consider more rate relief. The BOC cut its overnight rate twice last year after the global commodities price crash. The rate, however, has been fixed at 0.5 per cent since last July in spite of further deterioration in both the Canadian and global economies. The new Liberal government's move in its March budget to invest $25-billion in infrastructure and families over two years "more than offset" the renewed downward pressure on the economy, says Mr. Poloz. In its April monetary policy report, the BOC estimated that federal stimulus would boost gross domestic product by 0.5 percentage point this year and 0.6 points in 2017. Mr. Poloz says only a major delay in getting the economy back to full capacity would spur the BOC to revert to an easing bias on rates. He expects the Canadian economy to get up to "full speed this year." Mr. Poloz cautions it will take a year or more for the economy to absorb any "excess capacity."