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BoC Rate Guidance Expectations

CANADA
  • With 28 of 31 analysts expecting a 75bp hike to 3.25% from the BoC at 1000ET (and with at least UBS of the 3 looking for 50bps seeing it as a close call), focus will be on guidance, barring a second consecutive rate surprise after last month’s 100bp.
  • The below table runs through a range of analyst expectations for guidance, especially around the existing line that “The Governing Council continues to judge that interest rates will need to rise further, and the pace of increases will be guided by the Bank’s ongoing assessment of the economy and inflation”.
  • Table taken from our full preview (link here).

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