BoC's Business Outlook Survey for Q4 is due for release at 1500GMT
RBC preview (in brief)
- Q3 survey was very firm … aggregate BOS indicator slipping only marginally to a still historically elevated level (2.83)
Showed
- strong investment intentions
- acute capacity pressures/labour shortages
- and inflation expectations in the upper-end of the BoC's 1-3% target range
Recent dovish commentary from the BoC-December meeting statement and Poloz's economic progress report-suggest some softening is in store this time around. In particular, expect some concerns on the energy front and perhaps some limited spillover to other industries to be evident in the associated commentary.
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ps. The BoC monetary policy meeting is coming up on January 9th 2019
