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BoC press conference over. BoC seem on.......>

CANADA
CANADA: BoC press conference over. BoC seem on dovish side overall today. Poloz
says risks 'more tilted to the downside', following statement dropping phrase
saying "current degree of monetary stimulus remains appropriate", while saying
"resilience of Canada's economy will be increasingly tested as trade conflicts
and uncertainty persist". Full MNI Policy writeup to follow.
- Probability of Dec 2019 rate cut up from 11% yesterday to 29% today; 25bps cut
at one point basically fully priced by Sep 2020, per BBG WIRP (full cut had not
been priced in the curve prior to today's decision).

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