Ian is joined this week by CIBC Capital Markets’ Brenden Donaher, Executive Director from the Short Term Interest Rate Trading (STIRT) desk. The show begins with Ian highlighting the three key takeaways from the Bank of Canada rate decision last week. The Bank sounds more dovish and that raises the risk of an easing cycle which takes policy rates below neutral. Brenden provides his view on current expectations from the BoC rate path, comparing and contrasting the distribution to the United States, United Kingdom and Australia. The duo discuss what has worked and what hasn’t across the cross-currency curve, and why expectations of BA cessation never materialized in stronger short-end cross-currency pricing. Brenden gives his view on recent BoC actions to contain CORRA, and the pair give an overview of their expectations on the central bank meetings this week and how best to trade them.