The Bank of Canada (BOC) will release the rate statement with an update on the interest rate on December 9, at 17:00 MT time.
Instruments to trade: USD/CAD, EUR/CAD, GBP/CAD
On November 26, the Bank of Canada published an opening statement for the government. According to it, the economy is still dealing with pandemic problems. Moreover, the situation with the Canadian economy will heavily depend on the virus. At the same time, the regulator believes that vaccines and effective treatment will be widely available by mid-2022. The employment is recovering, but it still has fewer jobs than it did before the pandemic. The same goes for Canadian inflation, as the most recent release showed CPI at 0.7% in October. Thus, the Bank of Canada sees such measures as a low interest rate (currently held at 0.25%), and quantitative easing appropriate until the recovery is underway. It’s unlikely that we will see any changes to the interest rate or easing measures. However, the tone of the statement may provide additional insights into the bank’s decisions.
ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.
The Fed is going to take a decision about the interest rate. This is the crucial news for the following week. What's going on in the markets and what to expect?
Nothing can stop us from finding hgh quality trades and impactful news. This market wrap proves it, here’s what you need to know:
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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