BoC is universally expected to hold the overnight rate at 0.50% - TDS
|Research Team at TDS, suggests that the Bank of Canada is universally expected to hold the overnight rate at 0.50% tonight, though the policy statement and accompanying MPR should maintain the Bank's recent dovish tone.
Key Quotes
“While any further easing of monetary policy remains highly unlikely at this time, we believe that markets are underpricing the probability of such a move (OIS levels currently imply a 2% chance of a cut), given the announcement by Senior Deputy Governor Wilkins that the tailwind to inflation and exports from previous exchange rate moves has played out (see Trading the BoC).
Following the policy statement and MPR, Governor Poloz and Senior Deputy Governor Wilkins will participate in a press conference at 11:15 ET and are later scheduled to testify before the Senate Committee on Banking at 16:15 ET.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.