The announcement from the BoC is due at 1400 GMT on Wednesday 9 September 2020
- there are no accompanying fresh forecasts
- no press conference from Governor Macklem either
Scotia on what to expect (in very brief):
- Material changes to policy measures are not expected at this meeting but guidance may be important across several fronts. The statement itself is likely to repeat the line about "As the economy moves from reopening to recuperation, it will continue to require extraordinary monetary policy support." This is the BoC's way of tamping down enthusiasm toward recovery readings.
- Also watch for repeated forward rate guidance that included the line "The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved."
- Asset purchase guidance may be where some uncertainty lies.
