British companies are planning to increase pay by 2.5% this year
This year, UK private-sector employers are planning to give staff a basic annual pay leap of 2…
Bank of Canada: a moment of truth
The Bank of Canada is due to deliver its interest rate decision and monetary policy report at 17:00 MT time on September 5. The rate announcement is a crucial factor for the CAD exchange rate, so traders pay special attention to the BOC meetings.
Canada’s inflation rose to 3% for the first time since 2011 in July. This unexpected increase puts pressure on the Bank of Canada to accelerate interest-rate hikes. Canadian central bank has already raised interest rates four times since last year to cool the economy. The market expects the BOC to increase the Overnight Rate by October. This won’t necessarily happen in September. Yet, the meeting will still be very important and lead to big swings in USD/CAD and other pairs containing the Canadian currency.
• If the Bank of Canada raises the Overnight Rate, the CAD will rise.
• If the Bank of Canada doesn’t raise the Overnight Rate and gives negative comments, the CAD will fall.
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The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
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