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CAD: BOC to remain on the side lines, expect 5k jobs creation - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Research Team at TDS, suggests that the March FAD is shaping up be a placeholder meeting, as TD expects the Bank to remain on the sidelines in anticipation of the upcoming federal budget and fiscal stimulus.

    Key Quotes

    “Since the January MPR the economy has unfolded largely as expected. However, financial conditions have tightened as the appreciation of the Canadian dollar has outpaced increasing oil prices. There is a risk that the Bank acknowledges the strengthening currency.

    TD expects the creation of a mere 5k jobs in February, in line with a slight improvement in hiring intentions. Hiring should be bolstered by a rebound in self-employment, which will help offset continued layoffs in the resource sector. The unemployment rate will hold steady at 7.2% while the six-month pace of hiring will slip from 9k to 6k.”
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