Free Trial

MNI INTERVIEW: BOC Has Case For No Cut This Year: Dal's McNeil

(MNI) OTTAWA

Dalhousie professor says the BOC may also wait until the Fed cuts before any move.

There's an outside chance the Bank of Canada doesn't cut interest rates this year and it could at least delay until the Federal Reserve moves, an economics professor who has worked with former BOC advisers and did PhD research at the central bank told MNI.

“There is definitely a chance that we don’t see any rate cuts, I don’t know that will be likely but it certainly would be possible, just because we’ve been so surprised over the past three years or so,” said James McNeil, an assistant economics professor at Dalhousie University in Halifax, Nova Scotia, when asked whether BOC would have the necessary conditions to cut this year. “It wouldn’t surprise me to get surprised again.”

Keep reading...Show less
479 words

To read the full story

Close

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.

There's an outside chance the Bank of Canada doesn't cut interest rates this year and it could at least delay until the Federal Reserve moves, an economics professor who has worked with former BOC advisers and did PhD research at the central bank told MNI.

“There is definitely a chance that we don’t see any rate cuts, I don’t know that will be likely but it certainly would be possible, just because we’ve been so surprised over the past three years or so,” said James McNeil, an assistant economics professor at Dalhousie University in Halifax, Nova Scotia, when asked whether BOC would have the necessary conditions to cut this year. “It wouldn’t surprise me to get surprised again.”

Keep reading...Show less