No change, on hold, status quo, unchanged … pretty much the unanimous outlook for the BOC on May 29.
Earlier:
- Bank of Canada's monetary policy rate announcement preview (spoiler ... non-event)
- Bank of Canada meet May 29 - unanimous expectations of on hold rates (and likely for a long time)
… But, if you are looking for a contrarian call! OK, just kidding.
TD on what to expect:
- domestic economic outlook has stabilized since the April BoC announcement
- we expect the Bank to describe the economy as evolving in line with expectations
- forward looking language should be unchanged
- Bank continuing to focus on household spending, oil markets, and global trade uncertainty
- apparent deterioration in the trading relationship between the US and China should feature prominently, but the Governor's constructive comments on the labour market tilt the balance of risks towards a more optimistic statement
