BoC Minutes: Governing Council agreed to keep options open

The BoC's minutes convey a cautious yet flexible monetary policy stance, indicating that while inflation is near target, current geopolitical tensions and oil price fluctuations warrant careful judgment.

Newsquawk StaffPublished 1 Apr 2026, 17:50 UTCOn the live feed at 17:30 UTC — 4 more headlines followed before this page went public

Newsquawk headlinesUTC

17:38

Iran President to issue letter to Americans within hour, Tasnim reports

17:36

UAE Defense says we are now dealing with rocket and drone attacks coming from Iran

17:30

BoC Minutes: Governing Council agreed to keep options open

17:29

Oracle (ORCL) data centre nears USD 16bln financing after twisty path, Bloomberg reports

17:22

Iranian Official says an important letter by President Pezeshkian to the American people will be released in a few hours

Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.

Try the platform free

Free. No signup, no card.

Members acknowledged they would need to rely on judgment more heavily than usual.
Agreed, they would need to take a risk management approach to monetary policy.
Agreed, they could therefore take some time to see how the war in Iran evolved and what it meant for the outlook.
Felt they had some flexibility, given inflation was close to target and core measures suggested limited pressures.
Felt that in the near term, risks to growth looked tilted to the downside, while the oil price shock represented additional upside risk to inflation.
Felt higher gasoline prices, combined with still-elevated inflation essentials, could push up inflation expectations.
Acknowledged public perception of inflation remained high after the 2022 spike, and thar gasoline prices have a large impact on households’ assessment of inflation.

Context

This suggests the council may opt for a more data-dependent approach moving forward, reflecting concerns over growth risks and inflation expectations—important factors for traders to monitor in guiding CAD and fixed income positions.

Fixed Income · last 90 days

Recent headlines that moved markets

FIXED INCOME/4 Sept · 12:30 UTC

US Non Farm Payrolls (Aug) 162K vs. Exp. 56K (Prev. 21K); 2-month net revision +55k; Birth-Death 154K.

- UST futures, after we published−0.4%

In an immediate reaction to the healthy jobs market report: ES futures fell whilst the probability for a 25bps Fed hike at the next meeting rose to ~65% from just under 50% pre-data.

FIXED INCOME/4 Sept · 12:30 UTC

US Non Farm Payrolls (Aug) 162K vs. Exp. 56K (Prev. 21K); 2-month net revision +55k; Birth-Death 154K.

- UST futures, after we published−0.4%

FIXED INCOME/3 Sept · 12:48 UTC

Fed Governor Waller (Voter) Q&A: With CPI and PPI in hand, have a pretty accurate view of PCE inflation; there is little cost to waiting one meeting.

10yr UST futures, after we published+0.1%

FIXED INCOME/25 Aug · 19:26 UTC

A ceasefire between the US and Iran has been agreed upon, it includes free navigation in the Strait of Hormuz and will be announced in the coming days, reports Ria citing Pakistani and Iranian sources

10yr UST futures, after we published+0.1%

EQUITIES/8 Sept · 05:24 UTC

Saudi Energy Minister says a number of energy facilities and utilities were hit; are temporarily halting some operations.

Equity indices, after we published−0.3%

ENERGY/8 Sept · 05:23 UTC

Saudi Energy Minister says a number of energy facilities and utilities were hit; are temporarily halting some operations.

Brent Nov'26, after we published+1.0%

Newsquawk Daily

Get both market opens in your inbox.

This note and the other one — the EU open and the US open, every business day, written by the desk. No account needed.

Related headlines

The whole workspace, free to try.

© 2026 Newsquawk. All rights reserved.