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3 Mar 2015
Canada GDP may climb to 2.2% in Q4 – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, expects Canadian 4Q GDP to show an above consensus print at 2.2%, below than the BoC’s forecast of 2.5%.
Key Quotes
“Consensus is expecting Canadian GDP to climb 2.0% in Q4 (annualized), with estimates ranging from 1.7% to 2.5%, with Scotiabank Economics at an above consensus 2.2%.”
“The risk is that today’s release will disappoint the BoC’s forecast of 2.5%, however this print alone is unlikely to shift the interest rate decision tomorrow, where we expect the BoC to remain on hold at 0.75%. Still today’s print could create some volatility in CAD.”
Key Quotes
“Consensus is expecting Canadian GDP to climb 2.0% in Q4 (annualized), with estimates ranging from 1.7% to 2.5%, with Scotiabank Economics at an above consensus 2.2%.”
“The risk is that today’s release will disappoint the BoC’s forecast of 2.5%, however this print alone is unlikely to shift the interest rate decision tomorrow, where we expect the BoC to remain on hold at 0.75%. Still today’s print could create some volatility in CAD.”