BoC is unanimously expected to hold rates – TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities note that the Bank of Canada is unanimously expected to hold rates unchanged at 1.75% at the December meeting, leaving the focus on the tone of the statement.

Key Quotes

“We don't expect the Bank to say much given substantial uncertainty still clouds their outlook; we expect them to repeat that the outlook is evolving as expected while the last paragraph should maintain a heavy emphasis on data dependence.”

“There will not be an MPR or press conference, although the 10:00 ET policy statement will be followed by an Economic Progress Report on Thursday. At 8:30 we will receive nonfarm productivity for Q3, where consensus looks for another 0.2% q/q increase.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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