CAD supported by positive BoC - Nomura

Analysts at Nomura suggest that CAD has been supported by the BoC being more positive on the domestic growth outlook, with the Bank highlighting that the adjustment to lower oil prices is “largely complete” and recent data have been “encouraging”.

Key Quotes

“On housing, macro prudential measures and other policies have yet to have a substantial cooling effect. Over time, these measures should help to mitigate some of the elevated risks, in our view, while the recent moderation in inflation was largely as projected.”