BoC to hold rates steady this year – RBC Economics

Research Team at RBC Economics, suggests that Canada’s May GDP report confirmed a temporary wildfire-related slowdown that they, and the BoC, expect will be retraced in Q3/16.

Key Quotes

“The BoC is keeping the faith in the rotation toward stronger growth in non-resource sectors despite some disappointing data lately. We look for the Bank to hold rates steady this year to facilitate the economy’s transition.”