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Canada has largely been able to stay on the sidelines of the global economic uncertainty.
Therefore it’s likely to not be as much of a beneficiary of the general positive swing lately. But don’t tell that to their stock market, which has been breaching new records this year.
We don’t expect any policy changes at this BOC meeting, but we will get an update on the economic outlook. And this could move the markets a bit!
With the latest turmoil in Libya pushing oil prices higher, there are several arguments for loonie strength over the short term.
What We Are Looking For
There is a unanimous consensus that the BOC will keep the interest rate steady at 1.75%, despite a few concerns about the domestic economy.
We can expect the markets to focus on the monetary policy statement. There, the bank will give its outlook for the economy this year. Any changes from last quarter’s assessment could drive the market.
Many analysts, however, are confident that the BOC will keep...
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