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In the view of the analysts at TD Securities, the Bank of Canada (BOC) is likely to maintain its status-quo at the May monetary policy meeting due on Wednesday.

Key Quotes:

“Domestic economic outlook has stabilized since the April BOC announcement.

We expect the Bank to describe the economy as evolving in line with expectations.

Forward-looking language should be unchanged.

Bank continues to focus on household spending, oil markets, and global trade uncertainty.

Apparent deterioration in the trading relationship between the US and China should feature prominently, but the Governor’s constructive comments on the Labour market tilt the balance of risks towards a more optimistic statement.”