BoC to hold, for now - ING

Analysts at ING expect the BoC to resort to more cautionary stance due to the recent oil price slump, weaker-than-expected business investment in 3Q18, a stabilising housing market and US-China trade tensions.

Key Quotes

“We still see a hike in the first quarter of 2019, but don’t expect this to arrive next Wednesday. Instead, it’s more likely to come when the central bank next meets in March when policymakers have had the chance to let the risk environment develop and assess the impact on economic capacity. Governor Stephen Poloz recently said this was a significant factor in determining the appropriate pace of rate hikes.”