FXStreet (Edinburgh) - Strategists at TD Securities expect the BoC to cut the benchmark rate by 25 bp at its meeting next week. Key Quotes “TD expects the Bank of Canada to cut its overnight rate to 0.25%”. “Since the October MPR, the economy has been tracking far below the Bank's expected 1.5% pace of growth for Q4 and is dogged by a further plunge in the price of oil (Iran comes back online this week too-will it be buy the rumour/sell the fact?)”. “The recent Business Outlook Survey indicated deteriorating hiring and investment intentions, reflecting weakness in the energy industry”. “Current oil prices sit below breakeven costs of extraction and credit conditions are tightening for firms in the commodity sector, which suggests more pain to come”. “The shock-absorbing effect of the CAD has not worked as the Bank expected and underlying inflationary pressures remain below 2% in the Bank's view”. For more information, read our latest forex news.