Bank of Canada’s meeting

Bank of Canada’s meeting

The Bank of Canada will announce its interest rate decision at 17:00 MT time on September 6. Canadian central bank raised its benchmark interest rate by 25 basis points from 0.50% to 0.75% at July meeting. Such step was followed by a significant increase in Canadian dollar’s exchange rate. Canadian economy seems in a good shape and there’s a high possibility of another rate hike by the year-end. At the same time, risks may come from Canada’s neighbor, the United States, as well as the elevated debt of Canadian households.

The most likely scenario is that Canadian regulator will choose a “wait-and-see” approach and stay on hold in September. Still, if the Bank of Canada raises the rate or gives hawkish comments, there may be a positive reaction in the CAD. If the regulator sounds cautious, Canadian currency will suffer a selloff.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera