Bank of Canada maintains policy rate.  Global economic growth slowed. US GDP growth also slowed but remained surprisingly robust. Euro economic growth was flat. Equity markets have risen sharply.

Canada economy pace remained weak and below potential with a large decline in business investment.  Employment continues to grow more slowly than the population, and there are now some signs that wage pressures may be easing. CPI inflation has eased, however shelter price inflation remains elevated and is the biggest contributor to inflation.  The Bank repeated its concern of the persistence in underlying inflation, but it has dropped the mention of raising rates.  Today’s announcement is in line with the ongoing sentiment of pause and then most likely rate decrease.

Next BoC meeting is April 10, 2024.   US Fed will make their next rate announcement March 20, 2024.