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BULLET: CANADA BOC: BOC leaves o/n rate target at 1.75%, as..>

CANADA BOC: BOC leaves o/n rate target at 1.75%, as expected, but 
turns even more dovish, dropping any reference to future rate increases. 
Lowers neutral rate estimate to 2.25%-3.25% from 2.5%-3.5%. Says 
accommodative policy rate continues to be warranted. Will continue to 
evaluate approp degree of pol accommodtn as new data arrive. Monitoring 
household spendg, oil mkts,global trade policy. Canadian growth to pick 
up starting in 2Q 2019. Housing to stabilize; consumption to be 
underpinned by income grwth. High capu to support investment outside oil 
and gas. 1H 2019 Canadian growth lower than expected in Jan. Inflation 
to remain around 2% through 2020, 2021. Sees 1Q GDP 0.3% ann. (vs 0.8%); 
2Q 1.3%; 2019 1.2%. Sees 1Q CPI 1.6% (vs 1.7%), 2Q 2.0%; 2019 1.9%. 
Ongoing uncertainty about trade conflcts impactd glob gwth but to pick 
up in 2019.

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