The BoC monetary policy statement is due on 24 April 2019 at 10am Ottawa, which is 1400 GMT.
Adam has posted a comprehensive preview here, be sure not to miss it:
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And, so this post is not just a repeat of Adam's, quickie bank thoughts:
BNZ:
- policy should remain unchanged
- but the case for a prolonged pause has been gaining traction, with a slower domestic economy evident
- Still, Governor Poloz might be unwilling to remove the modest tightening bias from the policy outlook
ASB:
- We project the Bank of Canada (BoC) to leave rates at 1.75% over our forecast horizon.
- At its March meeting, the BoC removed its explicit tightening bias. Instead, the bank warned of increased uncertainty about the timing of future rate increases.
- The central bank is also expected to revise lower its Canadian GDP growth outlook for 2019 and 2020. In March, the BoC noted "the economy will be weaker in the first half of 2019 than the Bank projected in January".
NAB:
- rates very likely on hold
- focus therefore will turn to the outlook with weakness in the household sector under close watch
- Markets price around a 10% chance of a rate cut by the end of the year
