US softness and price risks outweigh valuations
The Bank of Canada will be thankful that their policy decision may take place amid calmer markets, but challenges are none the easier. Even disregarding broader global issues, caution is needed as the conventional demand drivers for the economy are
either stagnant or deteriorating. Valuations may look tempting for investors with CAD interest, but the currency is where we expect BoC pushback to remain the strongest.
Read the full report: UBS