Desjardins Notes "Considerable Support" Language Maintained By Bank of Canada

Last Updated: Wednesday, December 8, 2021 10:53 AM | MT Newswires

All in all, Desjardins thinks the Bank of Canada remains on a course to begin normalizing in April, but that is conditional on the worst downside risks related to Omicron not coming to fruition in the meantime. Desjardins said Wednesday, while the BoC "remains attuned" to the inflationary risks, and has not employed the 'transitory' vocabulary in this statement, the sense it gets is that the BoC is "not in panicky mode either", and will take its time to make sense of the current shocks affecting the global outlook. Tomorrow's speech by Deputy Governor Toni Gravelle will provide more details as to how the BoC evaluates this risk, as well as many others, it noted.

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