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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 unanimously expected to keep rates on hold at 4.5% on Wednesday and for the most part echo January’s pivot to guidance of a conditional pause whilst leaving the door open to further hikes.
- Data has been mixed. Employment was far stronger than expected but CPI showed some moderation and GDP was surprisingly soft, albeit partly offset by hawkish implications from weaker productivity growth.
- Surprises should never be ruled out from the BoC, with a weaker CAD adding inflationary pressure at the margin. However, market reaction could be limited with focus on nuances of the single page statement before potentially more detail in Thursday’s Economic Progress Report from Senior Dep Gov Rogers.
PLEASE FIND THE FULL REPORT HERE:
Canadian rates have been dragged higher by the substantial higher for longer push in the US
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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