- Bank Of Canada Overnight Rate Tgt: Unchanged At 1.75%
- Will Take Time To Gauge Persistence Of Below-Potential Growth, Inflation Implications
- Policy Makers To Watch Household Spending, Oil Markets, Global Trade Policy
- Global Economic Slowdown More Pronounced And Widespread Than Anticipated
- Trade Tensions, Uncertainty Weighing Heavily On Confidence, Economic Activity
- Global Prospects Would Be Buoyed By Resolution of Trade Conflicts
- US-China Trade Talk Progress, China Stimulus Have Improved Market Sentiment
- Canada’s 4Q Slowdown Was Sharper, More Broad-Based Than Expected
- Canada Consumer Spending, Housing Market Soft
- Canada Exports, Investment Came In Below Expectations
- Canadian Economy In 1H 2019 Appears Weaker Than Anticipated
- Headline Inflation To Be Slightly Below 2% Through Most Of 2019
The Bank of Canada held its key interest rate steady at +1.75% this morning as weaker global and domestic growth prospects led policy makers to express more caution about the pace of future rate increases.
The central bank said the economic outlook continues “to warrant a policy rate that is below the neutral range, which is currently estimated around 2.5% to 3.5%.”
The more “dovish” tone has the loonie under pressure, trading down -0.50% at C$1.3427.