BoC Preview: Forecasts from six major banks, rates unchanged but hawkish bias BOC InterestRate USDCAD Macroeconomics Banks
BoC is expected to keep interest
steady at 4.5% but may show readiness for further rate hikes if needed. Updated macro forecasts will not be released until the July meeting.We look for the BoC to step off the sidelines with another 25 bps hike to 4.75% in June. Economic data has remained resilient, and the Bank's conditional pause is looking less tenable without clear evidence of a material slowdown in the first half of 2023.
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