What’s more interesting is the Bank’s written statement. It says, “With recent improvements in the economic outlook, the need for such extraordinary policy is now passing, and it is appropriate to begin to lessen the degree of monetary stimulus.”
In other words, the BoC is no longer pledging to refrain from rate hikes. That virtually cements a June 1 or July 20 rate increase say analysts.
“It is an absolute 100% certainty [the Bank of Canada] will raise by July,” TD economist Craig Alexander said on BNN today.