BOC's Macklem: Not a lot has changed since last decision, there haven't been big surprises
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Any Bank of Canada decision on a possible rate hike is less about a timeline and more about conditions Macklem notes that core inflation has ticked down Bank would also look at inflation expectations when mulling a possible rate hike Weakness of Canadian economy tends to put down
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Tiff Macklem: Release of the Monetary Policy Report
The desk anticipates a cautious approach from the Bank of Canada following Tiff Macklem's recent remarks, suggesting that while inflation remains a concern, the central bank is unlikely to make aggressive rate hikes in the near term. Per the full note [source], Macklem emphasized the importance of data-driven decisions, particularly in light of upcoming economic indicators. With inflation data due on May 19 and GDP growth figures on May 29, these releases will be critical in shaping the Bank's future policy stance. Our analysis suggests that the CAD may face headwinds if the data falls short of expectations, reinforcing the cautious tone from the BoC.