ForexLive have posted up a few previews of the BoC policy meeting on January 17 2018

More now via ...

RBC:

We expect the BoC to raise the overnight rate by 25bp at Wednesday's meeting.

  • Clear signs of diminished labour market slack
  • and an economy operating at full capacity
  • should outweigh rising trade tensions with the US.

Risks around a possible US withdrawal from NAFTA will likely once again be the biggest concern weighing on the BoC, but absent an imminent withdrawal notice, they should feel comfortable bumping up the overnight rate to its post-crisis high of 1.25%.

Indeed, Q4 Business Outlook Survey results suggest firms' hiring and investment intentions are elevated despite trade uncertainties. The impact of an expected increase to US growth for 2018 (currently at 2.2%) will likely outweigh a downgrade to Q4 growth from 2.5% to something close to our current monitoring of 1.7% in the updated projection.

CIBC:

Markets are fairly confident, as are we, about seeing a quarter-point hike from the Bank of Canada.

The accompanying statement has to be somewhat hawkish, as its main purpose will be to explain why a hike was necessary.

  • But the BoC might do a better job than it did in September in communicating the message that it can take its time on further hikes.

Its growth and inflation outlook should be little changed,

  • but the Bank could add a note of caution on trade issues as a way of cooling the fires of the Canadian dollar.

(bolding mine)