The Bank of Canada held its rate at 5%, as expected. ICYMI:
- BOC’s Macklem: If core inflation stays put, we won’t hit our inflation forecast
- BOC’s Macklem Q&A: If we look beyond shelter, we’re seeing underlying inflation persist
- The full statement from the Bank of Canada March interest rate decision
- Bank of Canada rate decision: Rates held at 5.00% vs 5.00% expected
Via Scotia Bank response… “CUTS PUSHED OUT AGAIN:
- April’s meeting pricing was further reduced with now only 6–7bps of a cut priced.
- June’s pricing was also trimmed back from nearly a full quarter point cut to 18–19bps.
And, the BoC is:
- clearly on the sidelines awaiting more evidence before deciding what to do
- (no) language of a central bank moving toward easing anytime soon
Bank of Canada Governor Macklem
This article was written by Eamonn Sheridan at www.forexlive.com. Source