BoC: Expect no change in rates - BBH

Research Team at BBH, suggests that the Bank of Canada will announce the decision of its monetary policy meeting and there will be no change in rates, but the accompanying statement will be quickly scrutinized for bias.

Key Quotes

“The economy appears to have lost some momentum, and the Alberta fires won't help. At the same time, the apparent recovery in the US after a six-month soft patch is welcome news for Canada. The recovery in oil prices is also a favorable development for Canada. Also, since the last meeting, the Canadian dollar's four-month 14% rally ended, and it has pulled back almost 5% this month.”