At this policy meeting (15.00 BST), Bank of Canada is likely to keep its target for the overnight rate at 0.75%. Tighter financial conditions, however, may have it second guessing if the Jan rate cut was enough insurance against the oil price slump. Nevertheless, the recent speech by Governor Stephen Poloz indicates that the Bank is confident about prospects outside the energy sector.“We do not expect any major shift in Bank of Canada’s stance regarding the interest rate outlook.” says Capital Economics
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