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CANADA: *** Markets are widely anticipating the Bank of Canada to remain on hold
at the next policy announcement on March 6 as the economy moves through a slow
patch apace with slower global growth expectations. In fact, rate hike
expectations via Bloomberg show implied probabilities (OIS) NOT rising above 20%
through the July 10, 2019 policy meeting. Nomura economists cite the "failure of
recent data to meaningfully stabilize" for keeping the BoC "on hold through Q2
as the Bank seeks to gain confirmation of a rebound in activity. As a result, we
now expect the next rate increase from the BoC in Q3 2019, possibly in July, but
the timing remains uncertain. Operating under a more gradual schedule, we expect
another rate hike in Q1 2020."