The Bank of Canada releases its policy decision at 10:00 ET on Wednesday, alongside its quarterly monetary policy report.
"We think the overnight lending rate will be kept at 0.75%, as all analysts polled by Bloomberg also forecast. We do not entirely dismiss a rate cut - the memory of the 'surprise' January rate cut remains vivid", Says Standard Chartered
Governor Poloz is not afraid of surprise moves - but the probability is relatively low. The tone as being dovish, and expect Governor Poloz to emphasise that the BoC remains open to cutting rates further later, depending on the data.
A likely modest cut to the 2015 growth forecast (currently 2.1%) should add to the dovish slant.
