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MNI BoC Review, Jun'22: Questioning "More Forcefully"

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EXECUTIVE SUMMARY

  • The Bank of Canada hiked another 50bp to take its overnight rate to 1.5% and delivered a hawkish statement.
  • The inclusion of being prepared to hike “more forcefully” in the statement has thrown up questions on the exact sequencing that this might imply.
  • Dep Gov Beaudry’s Economic Progress Report today becomes particularly important. His remarks will be published 1045ET before the event starts 1100ET with Beaudry speaking at ~1110ET. There will be Q&A for event attendees at 1135ET with media availability following at ~1215ET.

PLEASE SEE HERE FOR THE FULL NOTE:

BOCReviewJun2022.pdf

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