BoC: Policy on hold with rangebound Loonie – Societe Generale

AI Briefing

• – BoC to hold policy rate at 2.25% despite weaker employment and lower CPI, concern over Iran conflict to lead to 33bps of tightening by year-end
• – Weaker employment and lower CPI may have tempered BoC's hawkishness on rate hikes
• – Markets now pricing in 33bps of tightening by year-end due to Iran conflict concerns