PrintMacquarie Economist Previews This Week's Bank of Canada Policy Meeting
BY MT Newswires | ECONOMIC | 07:07 AM EDT07:07 AM EDT, 04/28/2026 (MT Newswires) -- The Bank of Canada is scheduled to release its policy statement at 9:45 a.m. ET on Wednesday.
Macquarie's base case is for a hold with the Overnight rate likely to remain at 2.25%, said its head of economics, David Doyle.
Forward guidance should remain "ambiguous" given the elevated uncertainty, stated Doyle.
There may be some increased concern on the inflation front due to the recent oil price spike, he noted. Despite this, the underlying consumer price index figures so far in 2026 have shown a moderation, suggesting that a signal of a near-term rate hike is unlikely.
While the BoC is likely to stop short of signaling one at this meeting, Macquarie continues to see the next policy move as a hike.
In Doyle's view, this should only come later this year in the context of labor market improvement and above target inflation.
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