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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.
Source: Bank of Canada
EXECUTIVE SUMMARY
- The BoC is widely, but not unanimously, expected to hike 25bp for the second meeting after coming off the sidelines five weeks ago. 17 of 23 analysts expect such a move, OIS suggests 19bps is priced.
- A hike should see a hawkish initial reaction but a pivot to possibly more neutral language after recent data were more nuanced and open-ended guidance could see the edge taken off this move.
- Along with consensus, we also expect the 25bp hike to 5% to then assess data over an almost two-month period, but as always with the BoC see non-trivial risk of a surprise, this time from a hawkish hold.
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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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