TORONTO, Jan 18 (Reuters) - The Bank of Canada held interest rates steady as expected on Wednesday, even as it nudged growth forecasts higher, saying the big unknown of U.S. President-elect Donald Trump’s policies makes it prudent to wait and see.
”I don’t think there’s anything surprising in the rate announcement. There’s a few details that are interesting, however. We’ve got the Bank of Canada making a few assumptions about prospective tax policies in the U.S. resulting in a modest upward revision to their growth outloook.
”We see them highlighting the fact that Canada and the U.S. are in vastly different places at this point so we shouldn’t expect, as rates rise in the U.S., for the Bank of Canada to follow suit.
Reporting by Matt Scuffham, Fergal Smith, Alastair Sharp; Editing by Amran Abocar