{"id":405013,"date":"2026-04-30T13:21:08","date_gmt":"2026-04-30T13:21:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/405013\/"},"modified":"2026-04-30T13:21:08","modified_gmt":"2026-04-30T13:21:08","slug":"boc-cautious-as-cad-seen-choppy-td-securities","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/405013\/","title":{"rendered":"BoC cautious as CAD seen choppy \u2013 TD Securities"},"content":{"rendered":"<p>TD Securities reports the Bank of Canada (BoC) left rates at 2.25% with a cautious tone, highlighting trade uncertainty and a soft labour market while modestly upgrading 2026 growth. The team expects no policy changes through 2026 and two hikes in 2027. They see front-end Canadian rates as too cheap and forecast <a href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">USD\/CAD<\/a> trading choppily around current levels in Q2.<\/p>\n<p>BoC on hold with conditional guidance<\/p>\n<p>&#8220;The Bank of Canada held <a href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">rates<\/a> unchanged at 2.25% in April.&#8221;<\/p>\n<p>&#8220;The communique had a cautious tone, with the Bank downplaying positive growth impacts from higher energy prices and paying special attention to trade uncertainty and a soft labour market.&#8221;<\/p>\n<p>&#8220;Despite the Bank&#8217;s apparent caution, growth forecasts for 2026 were nonetheless revised modestly higher, and in that sense to communique looks like it was implicitly designed to push back against hawkish expectations.&#8221;<\/p>\n<p>&#8220;We look for the Bank of Canada to stay on hold for all of 2026, with two hikes in 2027.&#8221;<\/p>\n<p>&#8220;We expect the USD\/CAD to be choppy and trade around current levels through Q2.&#8221;<\/p>\n<p>(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)<\/p>\n","protected":false},"excerpt":{"rendered":"TD Securities reports the Bank of Canada (BoC) left rates at 2.25% with a cautious tone, highlighting trade&hellip;\n","protected":false},"author":2,"featured_media":405014,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-405013","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/405013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=405013"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/405013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/405014"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=405013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=405013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=405013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}