The overwhelming view is that the bank will continue to raise interest rates, despite the latest strength in the Canadian dollar.
More Quotes from Doug Porter:
In this environment, the Bank of Canada has very little room for error, and cannot be overly focused on a single sector of the economy, no matter how weak.Doug Porter
These together will probably increase consumer spending and at the margin . . . it will put a bit of upward pressure on growth and could potentially put that much more pressure on the Bank of Canada to raise interest rates.
Doug Porter
Simply put, Canada's balance of payments remains exceptionally strong. It is very tough to make the case that the Canadian dollar is wildly overvalued when the country continues to chalk up solid current account surpluses and net inflows in foreign direct investment.
Doug Porter
It certainly puts a rosier glow on the growth forecast for the fourth quarter. I was getting ready to revise that one down, because there had been some many weak reports for November. This report saves the day.
Doug Porter
We're a clear-cut loser from the spike we're seeing in energy prices.
Doug Porter
March's report didn't meet the markets' worst fears, and on those grounds I view it as somewhat bullish, ... I don't really see any discernable sign that job growth is slowing. The underlying trend is still extremely robust job growth, which will lead the Fed to raise rates again.
Doug Porter
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