For those waiting for a post card from the BOC, it just arrived!

If you were on the fence about the likelihood of a BOC hike, you can climb down on the “pause” side after comments from Governor Carney.

• Canada will see more modest growth going forward than in the first part of the year
• The economy has slowed more than the BOC expected. We must be careful in this uncertain environment
• Would have to take further Fed easing into account when setting policy