Bank of Canada turns dovish

The Bank of Canada has downgraded its global and Canadian economic growth outlook for a second straight Monetary Policy Report, revising their Canadian economic growth forecast by an average of 0.5 percentage points in 2010 and 2011. The BoC forecasts economic growth to be 3.0% in 2010, 2.3% in 2011, and 2.6% in 2012. Read the full report by TD Bank Financial Group here.

I get the feeling that Bank of Canada Governor Mark Carney would love to take back that last 25bps rate hike in September.