- Over time, some modest withdrawal of monetary policy stimulus will likely be required, consistent with achieving its inflation target
- BOC left rates unchanged at today’s meeting but shifted the boas toward tightening
- Record high household debt a concern
- Growth and inflation outlook downbeat
Given the crappy global economic backdrop, the rate threat is likely an empty on. Sorta like the parent yelling at the kids in the back seat: “Don’t make me come back there…” An important rhetorical move but not one that is likely to lead to action anytime soon.
