The CAD kneejerk on the Bank of Canada will be around 50 or 75 bps but the communication will be important as well. It could also set the stage for other central bank pivots in the week ahead.
The BOC isn't afraid to surprise the market so the 15% chance of 50 bps priced in is truly in play.
All that said, the BOC hates to tip its hand too far into the future. Notably, there will be a new set of forecasts with the data and Macklem will hold a press conference an hour after the decision.
