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

CANADA
  • The BoC held rates at 4.5% for the first time since starting its 425bp hiking cycle last March.
  • The single page statement struck a mixed tone with some conflicting changes. Analysts look to Senior Dep Gov Rogers’ remarks at 1340ET for any further clarity before Friday’s jobs report.
  • Most analysts haven’t outwardly changed their prior rate calls of on hold in the near-term except for Citi who now see at least one more 25bp hike in April, potentially tied to their new 50bp hike call for the March FOMC.
  • Full report found here: https://marketnews.com/mni-boc-review-mar-23-will-the-pause-still-be-lengthy

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