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MNI BoC Review, Mar'23: Will The Pause Still Be Lengthy?

Source: Bank of Canada

EXECUTIVE SUMMARY


  • The BoC held the overnight rate at 4.5% as unanimously expected, the first pause since it starts its 425bp hiking cycle last March.
  • The single page statement struck a mixed tone with some conflicting changes, with a potentially hawkish tweak in the guidance wording but also a surprise dropping of the economy being in excess demand.
  • Analysts look to Senior Dep Gov Rogers’ remarks later today (Thu) for any further clarity, with Friday’s jobs report of particular note after the January report left the labour market as the hottest part of the economy.

PLEASE FIND THE FULL REPORT HERE:

BOCReviewMar2023.pdf

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