Bank of Canada (BoC) Business Outlook Survey is published every quarter, providing the evaluation of economic conditions in the country. Data are derived from a survey of about 100 Canadian companies. The companies are selected in accordance with their contribution to the national GDP. Respondents are asked about business outlook and current business conditions.
Obtained survey results are then processed and published as a summary document containing a number of theses. The survey always contains a note that it only reflects the opinion of survey respondents and does not necessarily reflect the BoC's policy. Nevertheless, analysts and economists usually closely monitor the survey publication. This summary of interviews provides to the BoC an alternative indicator of the national economy state, in addition to purely statistical metrics. Sentiments in the business environment reflect the willingness of companies to make investments, expand production and develop exports. In turn, conclusions on companies' intentions allow making a forecast of economic activity in the country.
Therefore, depending on estimates and trends reflected in the survey results, the publication may have a short-term effect on the Canadian dollar quotes. However, this impact is usually of a short-term and insignificant nature, since this publication is of not of a news nature, and usually reflects existing trends instead.