BoC to leave the policy rate unchanged - Rabobank

Sandeep Kanihama FXStreet Contributor

Analysts at Rabobank are expecting the Bank of Canada to leave the policy rate unchanged at 1.75% on 29th May.

Key Quotes

“This is unanimously expected by the 21 analysts surveyed by Bloomberg (including ourselves) and CAD OIS implies almost no chance of a move in either direction at the May meeting.”

“Although a more cautious tone has been adopted by the Bank, the door was left open for rate hikes. Rather than being dovish, we argue that the Bank has adopted a holding stance.”

“We maintain the view that the BoC will not be able to raise rates again this cycle and instead we see the Bank cutting rates in 2020 Q2.”

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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