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No Obvious Surprises In BoC Minutes

CANADA

No surprises from the main headlines to the BoC's Summary of Deliberations with the points already discussed at the Jul 12 statement/press conference:

  • *BANK OF CANADA WILLING TO HIKE AGAIN, DOESN'T WANT TO OVERDO IT - bbg
  • *BOC TO WEIGH RATE DECISIONS 'ONE AT A TIME' AFTER JULY HIKE - bbg
  • *EXCESS DEMAND, INFLATION EXPECTATIONS, WAGES KEY TO BOC OUTLOOK - bbg


"Members noted that real interest rates had only recently entered clearly restrictive territory in the wake of a higher policy rate and declining inflation expectations," the minutes said. "This could explain why the impact of higher interest rates may appear to be delayed."

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