Bank of Canada Adopts 'Horse Blinders' to Discount Economic Progress -- Market Talk

Dow Jones12-11

1356 ET - The Bank of Canada's rate-policy decision and communications reflects a central banking buying some time until it's ready to present a revised economic forecast in January, says economist Derek Holt at Bank of Nova Scotia. BOC leaves the policy rate unchanged, and reiterates it is at the right level. Holt says Governor Tiff Macklem's remarks were peppered with, "Yeah, buts," that attempted to play down positive economic developments, like strong job growth and upward revisions to GDP data. "They put on horse blinders and heavily faded developments in ways I think went too far," says Holt, who predicts rate hikes in the 2H of 2026. Holt tells clients, "Don't be lulled into putting on horse blinders yourselves." (Paul.Vieira@wsj.com)

(END) Dow Jones Newswires

December 10, 2025 13:56 ET (18:56 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2590126532?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-11 02:56","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2590126532","market":"sh","top_or_hot":-1,"title":"Bank of Canada Adopts 'Horse Blinders' to Discount Economic Progress -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1356 ET - The Bank of Canada's rate-policy decision and communications reflects a central banking buying some time until it's ready to present a revised economic forecast in January, says economist Derek Holt at Bank of Nova Scotia. BOC leaves the policy rate unchanged, and reiterates it is at the right level. Holt says Governor Tiff Macklem's remarks were peppered with, \"Yeah, buts,\" that attempted to play down positive economic developments, like strong job growth and upward revisions to GDP data. \"They put on horse blinders and heavily faded developments in ways I think went too far,\" says Holt, who predicts rate hikes in the 2H of 2026. Holt tells clients, \"Don't be lulled into putting on horse blinders yourselves.\" (Paul.Vieira@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 10, 2025 13:56 ET (18:56 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank of Canada Adopts 'Horse Blinders' to Discount Economic Progress -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBank of Canada Adopts 'Horse Blinders' to Discount Economic Progress -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-11 02:56</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1356 ET - The Bank of Canada's rate-policy decision and communications reflects a central banking buying some time until it's ready to present a revised economic forecast in January, says economist Derek Holt at Bank of Nova Scotia. BOC leaves the policy rate unchanged, and reiterates it is at the right level. Holt says Governor Tiff Macklem's remarks were peppered with, \"Yeah, buts,\" that attempted to play down positive economic developments, like strong job growth and upward revisions to GDP data. \"They put on horse blinders and heavily faded developments in ways I think went too far,\" says Holt, who predicts rate hikes in the 2H of 2026. Holt tells clients, \"Don't be lulled into putting on horse blinders yourselves.\" (Paul.Vieira@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 10, 2025 13:56 ET (18:56 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4097","symbol_name":"系统软件","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2590126532","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2590126532","pubTimestamp":1765392960,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1356 ET - The Bank of Canada's rate-policy decision and communications reflects a central banking buying some time until it's ready to present a revised economic forecast in January, says economist Derek Holt at Bank of Nova Scotia. BOC leaves the policy rate unchanged, and reiterates it is at the right level. Holt says Governor Tiff Macklem's remarks were peppered with, \"Yeah, buts,\" that attempted to play down positive economic developments, like strong job growth and upward revisions to GDP data. \"They put on horse blinders and heavily faded developments in ways I think went too far,\" says Holt, who predicts rate hikes in the 2H of 2026. Holt tells clients, \"Don't be lulled into putting on horse blinders yourselves.\" ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4097":"系统软件","LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC","PRGS":"Progress Software Corporation"},"translate_title":"加拿大央行采取“马盲”来打折经济进步——市场讨论","themeId":"31d11ef20112fc5c8192b257acf470fb","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PRGS":1.5},"content_text":"1356 ET - The Bank of Canada's rate-policy decision and communications reflects a central banking buying some time until it's ready to present a revised economic forecast in January, says economist Derek Holt at Bank of Nova Scotia. BOC leaves the policy rate unchanged, and reiterates it is at the right level. Holt says Governor Tiff Macklem's remarks were peppered with, \"Yeah, buts,\" that attempted to play down positive economic developments, like strong job growth and upward revisions to GDP data. \"They put on horse blinders and heavily faded developments in ways I think went too far,\" says Holt, who predicts rate hikes in the 2H of 2026. Holt tells clients, \"Don't be lulled into putting on horse blinders yourselves.\" (Paul.Vieira@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  December 10, 2025 13:56 ET (18:56 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2590126532","isCrawlerRequest":true}