22.05.201514:41:00UTC+00Bank of Canada Will Keep the Policy Rate unchanged Next Week

There were few surprises this week, as Governor Poloz reiterated his view that Q1 is likely to have marked a low point for the Canadian economy, with growth expected to recover through the remainder of the year.
This week's data confirmed that GDP is likely to have started the year effectively unchanged. While retail sales recovered in March, on a quarterly basis they remain below their 2014Q4 level. Headline inflation softened in April, driven by lower energy prices. In contrast, core inflation remains close to, but slightly above, the Bank of Canada's 2% medium-term target.
"Looking ahead, we expect that the Bank of Canada will keep the policy rate unchanged at 0.75% on Wednesday morning's monetary policy announcement." said TD Economics