- Adds that energy platform maintenance will slow growth
- Canada was ‘over-reliant’ on the US
- Recent Canadian data has been soft, ‘bears watching’
- Makes sense to talk about rate hikes
- Rates are ‘very, very low’
The BOC has projected an upward trajectory in growth through 2014 and the comments highlight downside risks. If anything, this could lend modest strength to USD/CAD but it would take a great deal of economic weakness (or a recession in the US) to prompt the BOC to cut rates.
