07:42 AM EDT, 04/01/2026 (MT Newswires) -- The Summary of Deliberations from the Bank of Canada's March 18 decision will be out at 1:30 p.m. on Wednesday, said Bank of Montreal (BMO).

The bank noted that the on-hold decision was widely expected, and the statement acknowledged both the downside risks to growth and the upside risks to inflation from the war in Iran. Before the meeting, markets had been pricing in a hike by year-end, and those expectations have dialled up in the days since, with over two hikes priced in as of Friday.

The Summary of Deliberations will be scoured for signs in either direction, though BMO believed policymakers will continue to stress that it's too early to determine the extent of the oil price shock.

The bank will be looking for clues on what the BoC will view as signs of the persistence of higher energy prices and any second-round effects; and, on the other side, signs of further slowing in growth as the economic data have generally surprised to the downside since January's Monetary Policy Report.

BMO also expected to get March auto sales later Wednesday in both Canada and the United States.