The wording was that monetary policy is still stimulative, which implies further rate hikes down the line. And this morning, when capacity utilization was released, that definitely augured well for another rate hike.
More Quotes from David Powell:
It's pretty much universally expected they'll hike 25 basis points but I think what will be more important is the actual wording of the statement where people will look for further indication of further hikes.David Powell
One can't disregard the short-term effect of market psychology, and it looks like that's what was going on here today.
David Powell
You can see that dollarCanada's had trouble going below C1.15. I think that's a reflection of the fact that the statement was somewhat less hawkish, and traders are less sure about the course of monetary tightening in Canada.
David Powell
My feeling is that while there may be a mention of (a stronger Canadian dollar), it's not going to be a focal point of the statement because they are less concerned now about Canadian dollar appreciation than they were a year ago. The economy has had time to adjust and get used to a stronger Canadian dollar.
David Powell
Marcus came in and made some big-time throws for us at the right time,
David Powell
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Based on Topics: Morning QuotesBased on Keywords: stimulative
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