Canada: BoC and GDP figures in the limelight this week – BBH

Analysts at BBH suggests that the Bank of Canada is the only major central bank that meets in the week ahead.  

Key Quotes

“There is practically no chance of a change in policy, and there is little need to adjust the economic projections.  The slow recovery continues, but there is still plenty of slack in the economy.  There has been an improvement in the terms of trade, and the risk of a trade disruption given the new US administration appears to have slackened.  However, non-energy exports have disappointed (-4.1% in December).” 

“Canada reports GDP figures the day after the BOC meeting.  The economy is expected to have expanded 0.3% in December after 0.4% in November.  Growth appears to have accelerated to 2.0% at an annualized pace in Q4 after a 3.5% pace in Q3, which was the strongest in a couple of years.”