1059 ET - The Bank of Canada strikes a more hawkish note with an emphasis on upside risks to inflation after the rebound in 2Q GDP and employment, TD Securities says. It notes the central bank points to renewed trade tensions posing a threat to this recovery, though policymakers downplay direct tariff impacts in their statement. TD still believes that excess supply leaves a longer runway for interest rate increases and it looks for the central bank to stay on hold through 2026.
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