Bank of Canada Drops Reference to Consecutive Rate Hikes, Forecasts Brent Oil at $70 by 2027
The Bank of Canada removed language pointing to consecutive interest-rate hikes in its latest monetary policy statement, signaling a shift in the central bank’s rate outlook for the coming months.
The central bank also eliminated a prior reference to a rate cut, noting that uncertainty remains high across global markets. In its updated forecast, the BoC assumed the price of Brent crude will decline to around $70 by the end of 2027. The statement also incorporated assumptions that the USMCA trade agreement will remain in place with annual reviews and that shipping through the Hormuz Strait will gradually normalize.
From the sources (11 posts)
@zerohedge*BANK OF CANADA DROPS REFERENCE TO CONSECUTIVE HIKES
@financialjuice🔴 Bank of Canada also drops a reference to cut within its Rate statement.
@firstsquawkBOC HAS DROPPED REFERENCE TO CONSECUTIVE HIKES
@firstsquawkBOC SAYS UNCERTAINTY IS STILL HIGH
@financialjuiceBank Of Canada drops reference to consecutive hikes.
@financialjuiceBoC: Uncertainty is still high.
@financialjuiceBoC Rate Statement
@firstsquawkBOC MPR ASSUMES USMCA TRADE DEAL WILL REMAIN IN PLACE WITH ANNUAL REVIEWS, ASSUMES SHIPPING THROUGH HORMUZ STRAIT GRADUALLY RETURNS TO NORMAL
@financialjuiceBoC MPR assumes the USMCA trade deal will remain in place with annual reviews, assumes shipping through the Hormuz Strait gradually returns to normal.
@financialjuiceBoC MPR assumes the price of Brent will decline to around $70 by the end of 2027, says the outlook for oil prices remains highly uncertain
@firstsquawkBOC MPR ASSUMES PRICE OF BRENT WILL DECLINE TO AROUND $70 BY END-2027, SAYS OUTLOOK FOR OIL PRICES REMAINS HIGHLY UNCERTAIN