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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.
MNI: CANADA 3
EXECUTIVE SUMMARY
- The BoC is almost unanimously seen keeping its policy rate on hold at 5% for the third meeting running.
- Remarks from Gov. Macklem two weeks ago could heavily dictate the message we receive from the single page statement, including that excess demand is now gone and policy may now be restrictive enough.
- More nuanced remarks will have to come from Dep Gov Gravelle on Thursday, with Scotia noting potential for a change in framework with focus on ending QT.
- Markets have rallied significantly since the Oct 25 decision, potentially skewing greater risk of a hawkish market reaction, at least for FI, but one that is unlikely to persist.
- Data will ultimately set the tone, with recent trends showing a non-trivial increase in the unemployment rate along with core inflation moderation.
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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.
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