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BOC Review: Inflation Concerns Mount

CANADA

Our March 2022 BOC meeting review has just been published on our website and e-mailed to subscribers. It includes MNI analysis and 13 analyst note summaries.

https://marketnews.com/markets/pdfs/boc-review-inflation-concerns-mount


  • The Bank delivered liftoff with a 25bp hike as widely expected although heightened uncertainty had called that into question at the last minute.
  • Inflation concerns were prominent in the statement and help maintain its guidance of rate increases ahead, but there was a lack on information on QT plans whilst reinvestment proceedings continue.
  • Analysts have largely stuck to existing rate calls, although changes were marginally more hawkish than dovish, and instead turn their attention to see what Governor Macklem reveals on QT plans at 1130ET with his Economic Progress Report, followed by media questions at 1245ET.

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