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RBC Economics argues the Bank of Canada will set rate cuts based on domestic conditions rather than the Fed gap or the loonie. It expects the BoC to cut earlier and more than the Fed, and notes Canadian GDP per capita has lagged the US since 2019.
The view that a weaker loonie will not block BoC cuts implies sustained currency weakness, which matters for import costs on Canadian feed purchases but has limited direct grain price impact.
rbc.comShiplu TalukderApr 23, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
