BoC likely to hold rates at 0.50% - TDS

Research Team at TDS, suggests that today’s Bank of Canada rate decision will provide a highlight to a week otherwise void of economic data.

Key Quotes

“As has been the case since a close call in January, TD shares the universal view that the Bank will hold rates at 0.50%. The meeting itself should be fairly uneventful due to the lack of a press conference or updated forecasts. While the resurgence of the US economy and recent repricing of Fed hikes will be encouraging to Governor Poloz (USDCAD is roughly 5% off of its 2016 low), there remains scope for a cautious tone in the communique due to weakening Canadian data and a soft first quarter in the US.”