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Policy Announcement Wednesday

CANADA
Quick note on the next policy announcement from the Bank of Canada this Wednesday at 1000ET, no MPR report, but Bank Deputy Governor Schembri will likely explain the announcement at conference Thursday at 1330ET. Of the 20 sell-side analyst opinions covered in the upcoming MNI Policy Preview, 100% expect no change in in the target rate, with nearly two-thirds not seeing a change in the next two years.
  • Scotia Bank put it this way: the upcoming Bank of Canada "communications could simply be a warm-up act for the following month's meeting at which a wholesale revision of its increasingly stale narrative may be in order."

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