BoC: Dovish tone and long hold signalled – TD Securities

TD Securities analysts anticipate the Bank of Canada’s (BoC) March Summary of Deliberations will maintain a dovish tone, stressing excess supply and disinflation. TD Securities analysts anticipate the Bank of Canada’s (BoC) March Summary of Deliberations will maintain a dovish tone, stressing excess supply and disinflation. They argue the BoC has ended its easing cycle and will hold… TD Securities analysts anticipate the Bank of Canada’s (BoC) March Summary of Deliberations will maintain a dovish tone, stressing excess supply and disinflation. TD Securities analysts anticipate the Bank of Canada’s (BoC) March Summary of Deliberations will maintain a dovish tone, stressing excess supply and disinflation. They argue the BoC has ended its easing cycle and will hold the overnight rate at 2.25% through 2026, looking through higher headline inflation before hiking back toward neutral in early 2027.Dovish minutes and extended policy pause"We look for the Bank of Canada's Summary of Deliberations to… For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.