Highlights of the BOC statement on September 9, 2015:
- Economic activity underpinned by solid household spending and a firm US recovery
- Increasing uncertainty about growth in China and other emerging markets and that raises questions about global growth
- Movements in CAD are helping absorb some of the impact of lower commodities on inflation
- Overall export picture uncertain but data confirm that exchange-rate sensitive exports are gaining momentum
- Inflation outlook in line with July
- Policy stance is appropriate for inflation risks
There is no press conference later so this is all we get from the Bank of Canada. USD/CAD is down to 1.3169 from 1.3250 on the headlines.
There is certainly an optimistic tone in the report and no hints about future easing. That could change if oil prices tumble again, China stumbles or Canadian growth disappoints.
