CAD: A Move To A More Dovish Stance By BoC - CIBC



CIBC Research comments on today's BoC October policy decision:
"The Bank of Canada is highlighting that a stronger Canadian dollar is already weighing on their export outlook. Governor Poloz and co. go on to say that although the economy could be sitting at a zero output gap currently, a weak trend in wages suggests that slack in the labor market leaves them room to keep rates at accommodative levels.
Today's statement is clearly a move to a more dovish stance by Bank of Canada, and we find strong support to keep our forecast for a next move higher in rate to come only by the spring of 2018," CIBC argues.

Comments