12:07 ET - The Bank of Canada held its fire Wednesday and in doing so decided it would rather respond to the data as it happens and learn more about where trade policy is headed than try and be forward looking, CIBC Capital Markets' Avery Shenfeld says. The uncertainty was reflected in the central bank's monetary policy report, and Shenfeld notes both of the BoC's illustrative scenarios include a dent to growth and neither has inflation averaging far from 2% over the forecast horizon, a combination that might have justified another quarter point rate cut. As it stands, the economist wouldn't rule out half-point cut at the June meeting but given the BoC's caution he reckons it will deliver only a quarter point cut and a further quarter point cut in July. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
April 16, 2025 12:08 ET (16:08 GMT)
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