Analysts at TD Securities note the Bank of Canada (BoC) is widely expected to keep rates unchanged at 1.75% during the October policy meeting, where updated economic projections will balance a better-than-expected 2019 with modest downgrades to the 2020 outlook.

• “Q2 GDP and Q3 CPI came in well above projections from the previous MPR, but the global backdrop has softened since July which will weigh on next year's GDP forecast. The policy statement should maintain a similar tone to September, with forward looking language focused on the global outlook and trade uncertainty.”