“Recently the Bank of Canada (BoC) met and, as expected, left its target overnight rate unchanged.  More surprisingly though, the bank also eliminated its oft-repeated warning about near-term rate increases. Here is the exact wording from the announcement:

While some modest withdrawal of monetary policy stimulus will likely be required over time, consistent with achieving a two per cent inflation target, the more muted inflation outlook and the beginnings of a more constructive evolution of the imbalances in the housing sector suggest that the timing of any such withdrawal is less imminent than previously anticipated.”

-David Larock

Remonline.com