BoC: No change in rates – TD Securities

Analysts at TD Securities point out that the Bank of Canada will publish the September policy statement at 10:00 ET with TD and the wider market looking for no change in rates.

Key Quotes

“Economic data since July has been largely upbeat, however, we expect increased global trade tensions will get more attention in the communique and our base-case includes a dovish tweak to the Bank's forward-looking language that would open the door to cuts should global trade conditions deteriorate further.”

“Rounding out the data calendar is international trade for July, where TD looks for the trade balance to erode to a $0.20bn deficit (market: -$-0.35bn) on softer non-energy exports.”