RBC Financial Markets Monthly

Know when to hold ’em

We are pleased to provide the February 2023 edition of Financial Markets Monthly from RBC Economics. This publication includes a forward-looking analysis of Canadian, US and international financial market trends.

Key highlights

  • BoC became first major central bank to “conditionally” pause tightening
  • With Canada’s economy losing momentum it is unlikely BoC will restart rate hikes
  • Further hikes from the ECB, BoE and RBA are expected
  • A strong US payroll report has driven policy rate expectations higher
  • Terminal rate expectations will move higher if labour market strength persists over medium term


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RBC Economics, Financial Markets Monthly: Know when to hold 'em, February 2023