BoC rate cut would surprise the market - BBH

Research Team at BBH, suggests that a BoC rate cut would surprise the market, though the economy is struggling, the labor market has stalled, and non-oil exports contracted amid a record ex-US trade deficit.  

Key Quotes

“A dovish statement coupled with the pullback in oil prices, which are off 1% in the European morning, could weigh on the Canadian dollar.  

Fed’s Beige Book.  It typically is not a market mover, and although the leading hawk on the FOMC (among voting members) has said she would renew her call for an immediate hike, she will have to dissent again.”