Today’s Bank of Canada rate announcement was uneventful and exactly as expected. Rates are staying “as is”. The poll for any changes to the Bank of Canada rate in April or May indicate that 2% say there is a chance of a cut in rates in April and that percentage increases to a 4% for a chance of a rate cut in May. This sounds like most are expecting little changes to the bank rate for some time. There was a bit of a surprise with inflation numbers in January. Inflation was a little higher than expected but if you take out the volatile components of inflation (like gas prices), the core inflation was below the 2% threshold the Bank of Canada likes.
The announcement is one of the shortest on record(255 words down from 417 in January and yes some people count this), if you care to read it, here is the link.
The next Bank of Canada rate announcement is Wednesday, April 12.