What Not to Read in the Week Ahead

The Week Ahead

July 9, 2018

Canadian investors will be tempted to read the latest missives from the Bank of Canada in the coming week, looking for clues on interest rate policy ahead. Go get a good novel instead.

In all likelihood, Governor Poloz will opt to nudge interest rates a quarter point higher, given that the second quarter looks to see a rebound in growth to over 2% after three successive disappointments. While markets are already well braced for that, there’s a lot of uncertainty on the policy path thereafter. Could the text of the rate announcement, the new Monetary Policy Report, or the Governor’s press conference, help you in that regard?

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