Quotes from Rabobank:
- Today, the Bank of Canada kept its target for the overnight rate at 0.75%. The economy is evolving as the Bank had anticipated at the time of the surprise rate cut in January and financial conditions have eased. Therefore, the insurance taken out in January is still considered sufficient.
- Therefore, unless the negative impact of the oil price shock turns out more severe than currently anticipated by the Bank of Canada, we expect the Bank to remain on hold at 0.75% for the remainder of the year.
