The Bank of Canada broadly delivered upon expectations. It’s easy to do when they are set rather low to begin with. Nothing was changed. Nothing at all. Policy measures were left intact as expected. No material changes to their prior round of forecasts in October were offered. It’s as if time stood completely still since the last forecasts on October 25th when in reality so much change is afoot. I don’t find that satisfying when you’ve got a few hundred folks involved in the process. The overall set of communications left us with the exact same understanding of the BoC perspective that we’ve had for months. Their ... (full story)