Analysts at TD Securities are expecting the Bank of Canada (BoC) to leave rates unchanged at 1.75%, in line with all private sector forecasts, leaving focus on updated economic projections and tweaks to the statement on monetary policy.

"For the former, we expect the Bank to formally drop its bias towards higher rates by noting that future moves (not hikes) will be subject to increased uncertainty while updated forecasts should see near-term growth downgraded," analysts said.