Bank of Canada stuns hawks

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The Bank of Canada surprised investors today when it reigned back in the tone from its monthly meeting. Many had been expecting a more upbeat hawkish tone building into 2018, what they got instead was quite the opposite and weakened the Canadian dollar in turn. Despite the positive economic data, and NAFTA developments, the Bank of Canada was instead more neutral on the subject, and was focused on the fact that interest rates may need to remain below the neutral range for the interim while the economy continues to develop. The hawks had been building positions for some time, and as… Read More

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