BoC: No fireworks expected - TDS

Analysts at TD Securities are looking for the Bank of Canada to hold rates unchanged at 1.75%, but they expect the MPR to include a 0.2 p.p. downgrade to 2019 GDP growth.

Key Quotes

“We also look for additional dovish tweaks to the forward looking language.”

“FX: The loonie continues to sort through conflicting factors related to a weaker local one and a seemingly improving global one. We like tactical short exposure to CAD on crosses like AUD and SEK.”