CAD strengthens on BoC ‘more balanced’ comments

  • Bank of Canada leaves key rate unchanged at 0.75 %
  • BoC: Inflation in Canada has fallen as expected, reflecting the significant drop in oil prices
  • BoC: Canadian economic growth in the fourth quarter of 2014 was consistent with the Bank’s expectations
  • BoC: Bank continues to expect that most of the negative impact from lower oil prices will appear in the first half of 2015
  • BoC: easing is reflected across the yield curve and in a wide range of asset prices, including the Canadian dollar
  • BoC: In light of these developments, the risks around the inflation profile are now more balanced and financial stability risks are evolving as expected in January
  • BoC: Current degree of monetary policy stimulus is still appropriate

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