Bank of Canada Seen Firmly on Hold as Risks Evolve
Dow Jones
Yesterday
1050 ET - The Bank of Canada has been pinned to the sidelines, says Bank of Montreal's Benjamin Reitzes. He expects the central bank to be patient as it assesses how upside risk to inflation and uncertainty over growth with new tariffs play out, likely leaving it on hold into next year. He says the tone from the BoC's statement was slightly hawkish, with a clear increased concern due to higher oil prices and tariffs. Still, on the dovish side of things, he says the statement noted that financial conditions have tightened since July, due in part to the back-up in global bond yields.
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