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BOC: Rates unchanged; any further reduction in stimulus to be carefully considered

BOC: Rates unchanged; any further reduction in stimulus to be carefully considered

Central Banks
Jamie Coleman
01/03/2011 | 14:00 GMT

Looks like they are in absolutely no hurry to hike…Basic message more dovish than traders expected.

  • Inflation consistent with expectations; underlying pressures subdued
  • Consumption strong
  • Exports face considerable challenges from persistent CAD strength
  • US activity solidifying; Europe a source of uncertainty

Pretty balanced an no need to slam on the monetary brakes, it would appear…USD/CAD is at 0.9725 up from 0.9686 lows 30 minutes ahead of the announcement.

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