BoC to act at 12 April meeting? - UOB

Analysts at UOB Grup noted that the Bank of Canada (BoC) kept its key interest rate on hold at 1.25% on Wednesday, as it pointed to a climate of broadening, important unknowns around trade.

Key Quotes:

"In explaining its decision to maintain its benchmark rate steady, the central bank noted that recent trade policy developments are a key source of uncertainty for the Canadian and global outlooks."

"The BoC also noted that fourth-quarter growth was weaker than expected, largely due to higher imports, and that it’s still assessing impacts on housing markets from new policies, including stricter mortgage rules that took effect 1 January."

"The next interest rate announcement is scheduled for 12 April."