Another tapering from the BoC coming up next week according to all 21 analysts surveyed by Reuters
- to taper weekly asset purchases by C$1 bln, taking the programme down to 2bn/week
- Canada's economy to grow 6.2% in 2021 and 4.0% in 2022 (vs 5.8%; 4.0% in April poll)
- Bank of Canada will raise rates to 0.50% in Q4 2022 (same as June poll) according to the consensus, some of the economists predict Q3 2022.
The BoC was the first of G7 economies to being to wind back monetary stimulus when it reduced its weekly asset purchases programme in April.
The polled economists said a spread of new COVID-19 variants was the top economic risk this year.
BoC meet Wednesday, July 14, their latest Monetary Policy Report will be published concurrently.
Governor Macklem:
