07:43 AM EDT, 08/11/2025 (MT Newswires) -- The Summary of Deliberations from the Bank of Canada's July 30 policy meeting on Wednesday is expected to reflect policymakers' bias to cut rates further and the inflation worries that are keeping it from doing so, said Bank of Montreal (BMO).

The bank noted that it will be looking for more details on what the BoC wants to see from inflation to prompt a cut, and which metrics drove them to state that underlying inflation is around 2.5%. Concern about the economic outlook and building slack amid the uncertain trade backdrop are expected to be prominent as well, and will be informative on how keen the BoC is to cut rates.

Canada's housing market data on Friday should show firming sales momentum in July, driven in part by markets that have been some of the country's softest in southern Ontario. BMO stated that nationally, it looks for home sales to rise 10% year over year, implying a solid monthly gain in seasonally adjusted terms.

Average prices are expected to be little changed from a year ago, while the quality-adjusted MLS HPI likely fell 4% year over year, pointed out the bank. Although the housing market has turned up in the last few months, the recovery faces headwinds until economic activity rebounds.

Investors will also get June manufacturing sales and wholesale trade on Friday.

The Canadian dollar (CAD or loonie) starts the week at $1.377/USD (72.6 US cents), added BMO.