What's expected
- The OIS market is pricing in an 8.3% chance of a cut today
- No economists in the Bloomberg survey are forecasting a cut
- The probability rises to 30.7% by year end
- The overnight rate is currently 0.50%
- The BOC releases its latest quarterly Monetary Policy Report, which sets out GDP and inflation forecasts
- Here were the highlights of the May 25 decision
- Here was the full statement
The BOC is highly unlikely to cut today but Poloz isn't afraid of surprise. The intrigue will be in the statement . In May, the BOC said the "current stance of monetary policy still appropriate," that's the line to watch.
