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Snapshot Of Analyst BoC Rate Expectations

CANADA

Taken from MNI's full BoC Preview which can be found here.

  • Analysts are broadly seen as expecting a 25bp hike to 4.5% in the Bloomberg survey, with 22 of 27 analysts calling for such, but the remaining five of those look for no change.
  • We cover two of those, National and UBS, in the full note above.
  • Explicit rate cut calls are limited at this stage in contrast to heavy inversion priced, with the earliest seeing rates starting to be considered in 2H23.
  • Citi after last week’s CPI print stood out with their call for a further 25bp hike to 4.75% in March.

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