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.
