What to Expect When You’re Not Expecting

The Week Ahead

January 16, 2017

It’s on the calendar, so the Bank of Canada has no choice but to issue a new Monetary Policy Report and an interest rate decision in the week ahead. But nobody is expecting anything from the Bank these days, and for good reason. Second half growth is coming in almost bang on the BoC’s last projection. And the Bank doesn’t tend to incorporate government policy changes before they’ve happened, suggesting only slight adjustments to their US assumptions. So if Canadian interest rates looked appropriate last time, they surely must still be so today.

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