BoC Preview: Less to look through - Rabobank

In view of Christian Lawrence, Senior Market Strategist at Rabobank, the Bank of Canada is set to leave its policy rate unchanged at 0.50% on 24th May 2017 and they maintain the view that the BoC is unlikely to change the policy rate this year.

Key Quotes

“This week’s meeting will not be accompanied by a new Monetary Policy Report.”

“The BoC had been looking through stronger data but this month there is less to look through with domestic data generally disappointing expectations.”

“Oil will remain key for USD/CAD and in this respect, it can be argued that this week’s main event for CAD will be Thursday’s OPEC meeting rather than Wednesday’s BoC meeting.”