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Before the Meeting

BofC A sampling of commentary before Tuesday’s Bank of Canada interest rate meeting:

  • All 28 economists surveyed by Bloomberg think the BoC will keep rates unchanged tomorrow.
  • “A rate hike [today] is a very remote possibility at this point.” — BMO economist, Michael Gregory  (Globe)
  • “We expect the Bank of Canada has now entered a protracted period of sitting on the sidelines.”  — TD Strategist, Charmaine Buskas
  • “The market…is pricing in nothing from the Bank of Canada in coming months.” — Merrill Lynch economist, David Wolf
  • Rates are being pulled in two directions.  “We are stuck in this stagflationary mix of upside risks to inflation from commodities and downside risks to growth from the U.S.” — BMO economist, Sal Guatieri
  • “Inflation is a bigger worry right now.  We could see headline inflation jump to three per cent in the next month’s data (June).” — BMO economist, Benjamin Reitzes

Sources:  Globe & Mail, Bloomberg, 570 News