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NBP Gatnar Favors Symbolic 15bps Hike


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Risk-On Fulled By US Infra Spend

     CANADA BOC: BOC leaves o/n rate target 1.75%, as expected, and 
gives no guide to further rate hikes or cuts ahead. -Instead, says the 
accommodation provided by the 1.75% rate "remains appropriate." -Will 
remain data dependent and especially continue monitoring household 
spending, oil markets, and global trade which faces heightened tensions. 
Data provides accumulating evidence late 2018-early 2019 slowdown is 
giving way to pickup in 2Q. -Housing to stabilize; oil sector 
recovering; pickup in 2Q of consumer spending and exports. -Overall 
growth in business inventment has firmed. -However, inventories up 
sharply in Q1, which might dampen production growth. -Outlook for 
Canadian exports, investment, improved with U.S. metals tariffs removal.