MPC decided to remain status quo in line with street and our expectations. Given global macro headwinds still visible, the members did not feel appropriate to change their stance. It looks like the market wait for rate cuts just got longer, as we saw Canada policy makers announce a surprise rate hike. Key incoming data dependency will continue to be the order of the day. Policy maker guard rails remain. Bonds may continue its sideways movement and continue to track global bond yields specifically US treasuries.