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Summary of Analyst Views On BoC Outlook

CANADA
  • With the statements and Q&A offering something for everyone, analyst views around the start point for rate cuts appear unchanged: most are settled on April or June, but TD and Citi look for July.
  • There’s a reasonably wide range of views for total cuts in 2024, with CIBC looking for 150bp starting in June (necessitating a 50bp cut in July) and Citi looking for fewer than the circa 100bps priced.
  • The below table is taken from the MNI BoC Review published earlier, found here: https://roar-assets-auto.rbl.ms/files/59661/BOCReviewJan2024.pdf

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