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