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- Canada: BoC’s Business Outlook survey is important – RBC
Canada: BoC’s Business Outlook survey is important – RBC
Analysts at the Royal Bank of Canada (RBC) suggest that, looking further into January, the BoC's next Business Outlook survey will be another important input into Governing Council's early-2020 deliberations.
- "Any increase in business confidence amid a less uncertain trade backdrop (greater likelihood of USMCA ratification and a "phase 1" trade deal between the US and China) would support the BoC's view that slower growth in H2/19 will prove transitory.
- The balance of these indicators-GDP, employment and business sentiment-will be key to whether the BoC maintains a relatively neutral tone (as in December) or sounds more dovish (as in October) come January."
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