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Morgan Stanley Recommend Paying Apr ’24 BoC-Dated OIS

STIR

Late on Friday Morgan Stanley wrote “we believe market pricing is attributing a too-high probability of a BoC rate cut in April, as core and shelter inflation remains elevated. The BoC has signalled that it does not expect to cut rates before it sees sufficient evidence of a declining trend in underlying inflation. A sharper slowdown in Canada's economic data and rapid decline in core inflation may lead the BoC to signal the start of the easing cycle.” As such, they recommended paying Apr ’24 BoC-dated OIS.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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