On April 21 the Governing Council of the Bank of Canada (BoC) will meet to discuss monetary policy. After the global COVID-19 pandemic necessitated extraordinary interventions by both global central banks and fiscal authorities, many investors believe that the BoC’s April meeting will mark the first developed market (DM) central bank to begin normalizing monetary policy, by announcing a reduction in the monthly pace of government of Canada (GoC) bond purchases. We think the decision, however, like many faced by central bankers, is not so straight forward. In fact, the bank must weigh the brighter outlook for U.S. ... (full story)