As expected, the Bank of Canada held the policy rate unchanged at 4.5% for the second consecutive time on Wednesday. In the Monetary Policy Report, the central bank revised up its GDP forecast for 2023 from 1.0% to 1.4%, but…
Results from the BoC’s Business Outlook and Consumer Expectations Surveys for Q1 2023 indicate that the tightening cycle is impacting the Canadian economy. The share of households reporting being financially worse off…
CAD/NOK tends to trade in perfect harmony with the DXY, but a divergence has emerged of late. For one, the selloff in the Norwegian krone versus the Canadian dollar has not been associated with a similar rise in the DXY. The…
The Bank of Canada’s summary of the discussions by Governing Council members ahead of its March 8 decision to stand pat produced a dovish signal on Wednesday. Although policymakers highlighted that “the economy…
Canada’s labor market has been surprisingly resilient over the past few months. Last Friday’s employment report showed a 21.8 thousand increase in jobs in February, more than double expectations of 10 thousand. This…
The BoC held its overnight rate at 4.5%, as telegraphed by the Governing Council at its January policy meeting. The BoC is widely expected to be among the first major DM central banks to end its tightening cycle, alongside the…
In this Special Report, BCA’s Foreign Exchange Strategy and Global Fixed Income Strategy teams argue that as the lagged impact of higher interest rates hits the Canadian economy, what will initially appear as a potential hard landing…
Over the past few months, Canadian employment gains have been a source of positive surprise. January’s 150k increase (10 times higher than expectations) is just the latest in a series of strong beats. Although the initial…