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Canadian Rate Path Ahead Of BOC

STIR FUTURES
  • BOC policy decision due at 1000ET.
  • OIS pricing has increased to +26bp for the meeting after touching 20bp yesterday.
  • BAX futures have seen higher implied yields today, led by whites up to ~10bp higher, after yesterday almost exactly mirroring the curve following January’s BOC/FOMC meetings. They roughly imply 6 hikes for the year.
  • Preview here: https://marketnews.com/mni-boc-preview-mar-2022-lift-off

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