"On balance, risks to the profile for inflation have tilted somewhat to the downside since July. At the same time, while there are preliminary signs of a possible moderation in the Vancouver housing market, financial vulnerabilities associated with household imbalances remain elevated and continue to rise."
Full statement: http://www.bankofcanada.ca/2016/09/fad-press-release-2016-09-07/
Still, the bank did suggest that growth will pick up due to fiscal expansion and rebuilding from Alberta wildfires - but all in all the statement leaned dovish relative to the strong spike in CAD in recent days and CAD has dipped modestly. USDCAD focus on 1.3000 to the upside and 1.2750-1.2660 range lows to the downside.