Bank of Canada summary of discussions: Underlying inflation pressure could continue ...Middle East

Yesterday, Canadian and US officials indicated they had set a 30-day deadline for a trade deal and that's a key indicator on what the central bank will do next.

Boost in export growth could dissipate quickly as tariffs and uncertainty hitMembers noted that underlying inflationary pressures could persist for an extended period as consumers and businesses adapt to the rewiring of global tradePass-through of higher input costs to consumers would be difficult to track going forwardAgreed they would need to watch developments in inflation across CPI components carefullyAgreed the likelihood of a protracted and severe global trade war had diminishedShort-term inflation expectations among consumers and businesses had risenGoverning Council was encouraged by Q1 business investment but thought it was likely temporaryThere could be a need for further reduction(s) in interest rate if effects of tariffs and uncertainty continued to spread and cost pressures were contained

I don't see any strong signal here that would move BOC pricing.

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

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