The band’s back together

Royce and Ian are reunited in the studio after a month apart. They provide their thoughts on the most recent Bank of Canada interest rate announcement, in particular why the Bank didn’t mention the Canadian dollar and what the inclusion of the word “calibrate” means for the future of QE. Royce outlines his view on why the Bank’s forward guidance is being misunderstood in the market, while Ian makes the point that rising issuance may have the same impact as a tapering of QE.