1113 ET - A recent run of firmer data in Canada, as well as robust financial markets, has the Bank of Canada a bit more upbeat on the near term outlook but not enough to convincingly shift the medium-term view, Bank of Montreal's Douglas Porter says. The economist says that until there are clear signs that the country's output gap is closing on a consistent basis, it is going to be challenging for the central bank to turn more hawkish. And he adds volatility in energy prices is also keeping the BoC on high alert. "The bank is firmly on hold, and we expect them to remain there through the rest of 2026, assuming that oil prices don't flare dramatically higher from here," Porter says. (robb.stewart@wsj.com, @RobbMStewart)

(END) Dow Jones Newswires

July 15, 2026 11:13 ET (15:13 GMT)

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