BOC's Macklem: We're not ...Middle East

We're not in a situation where there is a single most-likely outcomeWe need to think about more than one outcomeAt some point things will get clearer and we can get back to putting more weight on being forward-looking

I take his comments today to be a signal that the BOC is moving to the sidelines for the time being but may cut aggressively (or hike) as developments on tariffs and the economy unfold. In the meantime, he's saying not to expect any hints on what's coming.

This article was written by Adam Button at www.forexlive.com.

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