Free Trial

BULLET: CANADA BOC: BOC raises o/n rate target 25bp to as....>

CANADA BOC: BOC raises o/n rate target 25bp to 1.50%, as expected. 
Keeps 'gradual' approach, data dependent. 'Expects that higher interest 
rates will be warranted'. Effect of US steel,aluminum tariffs, on gwth, 
infl 'modest'. Lwr CAD despite higher oil prices reflects broad-based 
USD strength, trade concerns. Protectionism-related risks have broadened 
and intensified, and weigh on investment in some sectors. Uncertainty 
over NAFTA future has increased. Neg impact from trade uncert on biz 
investmnt,exprts now largr. Monitoring econ capacity, sensitivity to 
higher rates, and firms and consumers response to trade actions. Global 
economy evolving in line with Apr projections. Econ close to capacity, 
growth composition shifting. Temporary factors causing quarterly growth 
rate volatility. 2018 GDP 2.0% (unrevised); 2019 2.2% (rev from 2.1%); 
2020 1.9% (rev from 1.8%). 2018 CPI at 2.4%, 2019 2.2%, 2020 2.1%. BOC 
rev up 2Q GDP to 2.8% from 2.5%; to slow to 1.5% in 3Q. 

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });