BoC: Another hike discounted before year-end – RBC CM

Analysts at RBC Capital Markets point out that OIS markets have another full BoC hike before year-end almost fully discounted, and most likely in October.

Key Quotes

“BoC Governor Poloz gave a one-on-one interview on CTV explaining yesterday’s rate hike and current BoC thinking, largely a reiterating of key messages from the MPR.  Poloz sees the uncertainty around NAFTA as the single-largest issue facing Canada presently, though he expects the process to “roll along.”