Bank of Canada Governor's Parliamentary Testimony Unlikely to Offer Fresh Signals on Rate Outlook, Scotiabank Says

10:17 AM EST, 11/03/2026 (MT Newswires) -- Top Bank of Canada officials are unlikely to say much of anything new in parliamentary testimony later Tuesday, according to Scotiabank Economics in a note. BoC Governor Tiff Macklem is scheduled to release his statement at 11 a.m. ET, before appearing alongside Senior Deputy Governor Carolyn Rogers for two hours of testimony before the House of Commons Standing Committee on Finance, Scotiabank said in a Tuesday note. Since last Wednesday's BoC 25-basis-point rate hike, the key development has been softer-than-expected monthly gross domestic product, which Macklem is likely to look past when discussing the outlook, and falling oil prices, which he may also downplay amid mixed signals on the next steps in the Iran conflict, said the bank.