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'We're looking at commodity prices remaining elevated': Karl Schamotta on the global environment

Karl Schamotta, chief market strategist at Corpay, joins BNN Bloomberg to provide a lookahead on the BoC and U.S. Fed rate announcements.

The Global and Mail: U.S. Federal Reserve, Bank of Canada keep key interest rates unchanged amid oil-driven inflation risks

“The Federal Reserve left interest rates unchanged and made relatively minor changes in its policy statement, suggesting that officials plan to follow long-standing monetary policy orthodoxy in ’looking through’ the energy price shock” said Karl Schamotta.

Wall Street Journal: Bank of Canada to Stand Pat on Rates, Await Fallout From Energy-Price Shock

Reuters: Dollar gains as Fed leaves rates unchanged

"The consistent tone, paired with a fresh set of projections ⁠showing lower growth, and higher inflation than in December, marks the clearest signal yet that Chair ​Jay Powell's Fed sees higher energy prices playing a temporary,...." said Karl Schamotta.