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Source: Bloomberg, TD Securities

Spread between BoC O/N Rate and Upper Bound of Fed Funds Rate

2025

2022

2019

2016

2013

2010

2007

2004

2001

1998

-250

-200

-150

-100

-50

0

50

150

150

200

Basis Points

TDS Forecast

Width must remain at 770px

Canvas setup

Line charts are recommended to be redrawn in Illustrator and exported as a PNG (currently there are issues with importing SVG files)

Quick Guide

Instructions layer can be hidden before export