Bank of Canada meeting this week - preview (spoiler - an uneventful meeting)

Credit Agricole expectations for this week's BoC policy meeting on Wednesday.

• "Our economist expects the BoC policy meeting to be largely uneventful while the CPI data could confirm that the recent gradual recovery remains in place. Indeed, we think that the BoC will maintain a stable outlook given that policy rates are at their lower bound and after the policy measures the MPC announced late last year to lengthen the average maturity of its QE purchases," CACIB notes.
• "As a result, in the near term, the CAD will likely take its cue from UST yields and global commodity prices this week," CACIB adds.

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The BoC meeting is on 20 January 2021, statement at 1500GMT.