QUOTES-Canada central bank officials speak after rate cut

(Adds quotes)

TORONTO, Oct 23 (Reuters) -

The Bank of Canada on Wednesday

reduced

its key benchmark rate by 50 basis points to 3.75%, its first bigger-than-usual move in more than four years, and hailed signs the country has returned to an era of low inflation.

Here are some quotes from central bank officials:

DEPUTY GOVERNOR CAROLYN ROGERS ON QUANTITATIVE TIGHTENING

"Our position on quantitative tightening (QT) really hasn't changed. We've always said it'll operate in the background and it'll support our rate cuts... The way to interpret the decision we made today is about normalization."

ROGERS ON CHANGES TO QT

"We've had the benefit of time and more data and more discussion. And I think the cut that we made today really reflects that increasing confidence that we're heading in the right direction. So, QT is also heading in the right direction. We don't plan any immediate changes to it."

BANK OF CANADA GOVERNOR TIFF MACKLEM ON DECLINE IN INFLATION

"Headline inflation has come down significantly. Yes, part of that is global oil prices - we saw a big decline particularly in gasoline prices - and that can be volatile. But if you look beyond that there are some more fundamental factors. Core inflation has continued to gradually ease largely as we expected."

MACKLEM ON SHELTER PRICE INFLATION

"If you look at shelter price inflation it's still elevated but it has started to come off and that has increased our confidence that will gradually continue to ease."

(Reporting by Fergal Smith)