- Still a hawkish tilt, saying removing stimulus “may become appropriate”
- No economists were forecasting any change in rates
- Global economic outlook has weakened
- Underlying momentum in Canada largely as expected
- Sees small degree of excess capacity in Canadian economy
- Statement
To the extent that the economic expansion continues and the current excess supply in the economy is gradually absorbed, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate…
Prior
In light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate…
Bland statement but more hawkish than expected, USD/CAD slides lower to 1.0380 and is likely to continue to slide toward corporate orders at 1.0320/50.