Bank of Canada between 'a rock and hard place' heading into rate decision: Strategist - BNN Bloomberg

on Wednesday. Karl Schamotta, a chief market strategist at Corpay, said in an interview with BNN Bloomberg Monday, that he thinks the Bank of Canada will acknowledge downside economic risks stemming from volatility in the U.S. banking sector.

Schamotta said he also expects the central bank to also recognize “signs of resilience in the economy,” which he said has grown more rapidly than projections from the Bank of Canada. He said gains in employment have spurred increases in aggregate spending. Schamotta said he expects a future decline in consumer spending, which is likely to weigh on the Canadian economy and bring about negative growth. He said that following outsized increases to interest rates, Canadian consumers will likely curtail spending as they deal with higher debt loads. eight times last year, before electing to hold its policy rate at 4.5 per cent in March.

“At the end of the day, it's shocking that the Canadian economy has not slowed more dramatically than it has [and] that employment is as robust as it is,” he said.

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Saving overpriced housing vs everything else. Just raise rates and match the FED.

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