Comments from the Bank of Canada's Schembri:
- Business investment in Canada remains weak; investment in energy appears to be stabilizing
- Elevated geopolitical uncertainty likely contributing to underperformance in investment; too early to assume worst is behind us
- Growth in US expected to remain solid
- Inflation projected near 2% through 2017 and 2018
- Business investment expected to slowly strengthen
- Subdued wages and hours reflect persistent slack
Canadian economic data has been very good lately but the BOC continues to lean against it and forecast trouble while remaining dovish. There's no change from that theme here.
