BoC to defy markets, leave overnight rate unchanged at 0.50% - TDS

Today, all eyes will be on the Bank of Canada, where the analysis team at TDS is looking for Governor Poloz to defy market expectations and leave the overnight rate unchanged at 0.50%.

Key Quotes

“The policy statement and accompanying MPR will be released at 10:00 ET and be followed by an 11:15 ET press conference (and opening statement) with Governor Poloz and Deputy Governor Wilkins. While we acknowledge the rate decision is a very close call, the potential for Poloz to try and manage market expectations to prevent further front loading increases the risk of a dovish market reaction even in the case of a rate hike.”