Once we get the final election result its not over yet for Canada.
Coming up today also is the Business Outlook Survey, which is an important input ahead of the Bank of Canada meeting on October 30 (ie next week). Preview here:
Adding this via Scotia on what to expect:
- Business Outlook Survey … survey-based evidence drawn from c-suites on matters such as hiring intentions, recent production growth, expected production growth, cap-ex plans and inflation expectations.
- The results of the prior surveys are shown in chart 12. Whether businesses still expect inflation to remain in the 1-2% range and hence in the lower half of the BoC’s 1-3% target range may be significant in terms of the credibility of the 2% target. A caveat is that the survey may be stale on arrival for two reasons. One is that it was conducted over roughly the last week of August through to mid-September and hence might not capture the freshest views. Another is that Monday’s election may be impactful for business expectations.