BoC likely to keep the overnight rate at 0.50% - RBC CM

Sandeep Kanihama FXStreet Contributor

Sue Trinh, Senior Currency Strategist at RBC Capital Markets, expects the BoC to keep the overnight rate at 0.50%.

Key Quotes

“The Bank is likely to revise its growth forecasts lower and the closure of the output gap will be pushed out to 2018 from late-2017 currently. Our economists see this as an implicit easing bias and, with only around a 10% probability of a rate cut discounted for early 2017, the risk is asymmetric to the downside for CAD.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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