Wednesday 30 October 2019, announcement coming at 1400GMT

A couple of bank previews, in summary. An on hold decision is basically the unanimous expectation. Apart from that ...

RBC:

  • BoC can reasonably argue that not much has changed since their last communication
  • Dataflow has been neutral to positive overall and the October 22nd Business Outlook Survey was slightly better than anticipated (tightening capacity constrains, solid investment intentions). US growth concerns were cited by firms, however, and nonenergy export prospects are dim as US IP has slipped to negative YoY.
  • We do not anticipate any changes to the policy directive that the current degree of accommodation remains appropriate.

UBS:

  • Data for August and September are so far solid
  • The weak monthly GDP print for July does not seem sufficient to change course without public commentary
  • we expect the same cautious tone of the past few meetings
  • We do not expect the marginal de-escalation in tension in the trade war to affect the tone.

Earlier preview:

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Plenty of other central bank action coming up aslso.

FOMC also today:

Bank of Japan Thursday: