Hence the Bank of Canada has decided to have their interest rates on hold, the Conference Board of Canada has made their opinions known and backlashed at the unexpected move taken by the financial lender.
The Conference Board pointed out that the Bank of Canada didn’t bear in mind the rise in inflation which they showed no concern for as they also consider it as a temporal situation. What they anticipate is the growth to be much stronger than anticipated earlier on for the fourth quarter of last year. The data by GDP will soon be released.
The senior vice-president and chief economist of the Conference Board, Craig Alexander made note that the Bank of Canada was very much advocating a peaceful method in trying to have certain conflict resolved, behaving in a dovish manner, most especially on the expectancy of the Canadian loonie.
Alexander gave details saying; “The implication is that monetary policy should remain unchanged this year, but bond yields could edge higher as U.S. yields rise and the Canadian dollar is likely to weaken.”