Today the BoC meets and is widely expected to remain on hold at 0.75%. With no Monetary Policy Report or presser, the market focus will center on the Bank’s policy statement. Our economists expect little change in the statement. Notably, the Bank will likely maintain its growth projections and sanguine policy outlook, owing to its upbeat oil and US economic assessment. However, we doubt the Bank will introduce a hawkish shift in its tone just yet. Data releases have been light since the last meeting and Q1 GDP gets released later in the week after the BoC meeting. The market expects 0.3% growth in Q1 but we note the ... (full story)