US Stock Futures Flat as Iran Strait of Hormuz Demands Fuel Oil Concerns 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
BOJ Expected to Hold Rates Steady While Signaling More Hikes Ahead 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Gold Price Hits Two-Month High as Investors Await US Inflation Data 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Bank of Canada held interest rate unchanged at 0.5 percent at its latest policy decision on Wednesday, but warned of persistent risks that suggest it will not hike anytime soon. In January, BoC governor Poloz had left the door open to a possible rate cut, citing the uncertainty surrounding the U.S. trade agenda and the lacklustre state of the Canadian economy.
But following the string of solid numbers, the bank acknowledged the improvements and raised growth expectations. It now forecasts real gross domestic product to expand at an annual rate of 2.6 percent this year, up from its January forecast of 2.1 percent.
The bank, however, also reiterated still-present downside risks highlighted by the U.S. uncertainty. Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins in a second day of testimony after releasing the bank’s closely watched monetary policy report on Wednesday warned a Senate committee of the possible impact of changes to U.S. trade policy, saying it is the greatest risk to Canada’s economic outlook.
TD Bank senior economist Brian DePratto said it's a "little difficult to square" the bank's stronger projections, such as its bigger growth forecast, with the more downbeat tone of its accompanying statement.
