BoC Meeting Tomorrow

No-Rate-Change 12 out of 12 economists surveyed by Bloomberg expect no change in rates at tomorrow’s Bank of Canada meeting.

According to Action Economics, which summarizes market sentiment, the market widely expects the “BoC to keep the 0.25% rate floor in place and maintain the conditional commitment to keep the floor through June of 2010.”

June 2010 is a long time away though, and a lot can happen by then.  If short-term rates start rising unexpectedly (check in on this chart of 1-year notes occasionally), it could be a clue that prime will climb before next June.  No one expects this anytime soon, however.

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