May 31, 2024 13:58 GMT
TDS Revise BoC Call, See 25bps Cut Next Week
CANADA
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- TD Securities change their BoC call, and now see a 25bps rate cut to 4.75% next week. They think today's softer GDP data will tip the scale, writing that they now "see less benefit to waiting for another six weeks of data"
- The Bank of Canada will still be looking at downward level shock to its projections for Q1/Q2 activity after calling for +2.8% in the April MPR, and with the substantial progress across underlying price pressures removes a key obstacle to near-term cuts.
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