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Scotiabank Doesn't See Much New Out of This Week's Bank of Canada March Policy Meeting Summary of Deliberations

BY MT Newswires | ECONOMIC | 10:00 AM EDT

10:00 AM EDT, 03/30/2026 (MT Newswires) -- The Bank of Canada releases on Wednesday its 'Summary of Deliberations' through the whole decision-making process leading up to the March 18 policy statement, said Scotiabank.

The bank doesn't expect much of anything truly new. The BoC's message has been cautious on the economy to date, while warning it won't let inflation risk spread like the last time.

Scotiabank will watch for preliminary discussions on the impact of the energy shock on the economy. Household incomes and corporate profits tend to keep rising after recent energy shocks, with the exception being the 1990-91 period.

Everything went wrong at that time, the bank added. This included a double digit BoC policy rate in the early days of inflation targeting with Governor John Crow at the helm, an over 400bps 2s spread over the United States, fiscal policy run amok, ratings downgrades, unflattering WSJ references to Canada being a 'banana republic', political tensions, adjusting to the Canada-US Free Trade Agreement and then NAFTA, added the bank.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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