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- The Bank of Canada will not change the monetary policy today - Barclays Capital
The Bank of Canada will not change the monetary policy today - Barclays Capital
We expect that in the course of today's meeting the Bank of Canada will leave unchanged its benchmark interest rate - at 0.5% in the accompanying statement, the Central Bank is likely to indicate that is monitoring the situation on global markets after Brexit and evaluate potential impact of this event on the Canadian economy. We believe that the Bank of Canada will keep unchanged its monetary policy at the moment, in spite of the increase in global risk aversion and a weakening outlook for global growth after the referendum in the UK. The Bank of Canada is likely to lower the growth forecast for the world economy after the shock of Brexit and slightly worsen its domestic growth forecast. The revised forecasts should also include the effects of forest fires in the Fort McMurray, which is expected to take away around 1.25 .% of the GDP growth in. Q2 Particular attention will be paid to the assessment of risks to inflation and expected growth, given the still low commodity prices - said Barclays.
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