BoC Governor Macklem says governing council felt it was hard to assign a probability to risks to the outlook

BoC Governor Macklem says governing council felt it was hard to assign a probability to risks to the outlook.

Governor Macklem's comments suggest that the Bank of Canada's governing council is struggling to quantify the risks impacting their economic outlook. This indicates uncertainty in their policy decisions and could imply a more cautious approach to rate adjustments in the near term. Expect this to weigh on CAD sentiment and influence fixed income markets as traders reassess their rate path expectations.