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Notable Takeaways From Nov Analyst Survey

CANADA
  • The 18 analysts surveyed by Bloomberg are completely split on whether the BoC hikes 25 or 50bp on Dec 7.
  • Consensus for a terminal 4.25% by Jan, holding for much of 2023 before a 25bp cut to 4% in Dec’23.
  • The consensus single cut in Dec’23 masks a wide range though: BMO still expects a policy rate of 4.5% but UBS has a particularly fast rate cut profile to 2.25% and further into 2024, whilst some local banks see 3.5%.

Source: Bloomberg

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