Will the BOC bring a challenge to the CAD traders?
The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
How will the Canadian dollar react to the BOC meeting?
The Bank of Canada (BOC) will release its statement and publish the official rate on September 4, at 17:00 MT time.
The changes to the interest rate are not expected, but we will be looking for the clues on the next steps by the bank. Some of the analysts expect the BOC to throw the hints on the possibility of a rate cut, citing the trade uncertainty between the US and China and worsened economic outlook. Thus, any dovish comments will pull the Canadian dollar down. So, let’s wait for the outcome of the meeting.
• If the Bank of Canada is hawkish, the CAD will rise;
• If the Bank of Canada is dovish, the CAD will rise.
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