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Scotiabank Doesn't Expect Much News Out of Wednesday's Bank of Canada Summary of Deliberations

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The Bank of Canada releases its Summary of Deliberations at 1:30 p.m. ET on Wednesday, said Scotiabank.

The Summary attempts to reflect the dialogue that was conducted in the lead-up to the April 29 policy decision, noted the bank.

The Summary was forced upon the BoC by the International Monetary Fund, which demanded improved transparency, but it "falls short of more useful minutes," stated Scotiabank.

The bank's economist pointed out that he doesn't predict anything of importance from Wednesday's release, given abundant communications on the day of the policy statement and the Monetary Policy Report and press conference, then media interviews, and in two rounds of parliamentary testimony.

It will just be a rehashed exercise in what you should already know, according to Scotiabank.

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