The ECB Interest Rate Decision: insights for the euro
The European Central Bank is holding a meeting on April 22 at 14:45 MT time. What to watch?
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.
Similar
Will the BOC provide a boost for the CAD?
The Bank of Canada (BOC) will publish the rate statement and the update on the interest rate on April 21, at 17:00 MT time.
Any optimism for the Canadian labor market?
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
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