Will the Bank of Canada shake the loonie?

Will the Bank of Canada shake the loonie?

The bank of Canada will make its monetary policy statement and announce the official rate on April 24, at 17:00 MT time.

We anticipate the interest rate to remain unchanged at 1.75%. However, the Bank of Canada governor Stephen Poloz may throw some hints on the possible changes to the monetary policy of the bank in the future amid the global uncertainties. As the rumors about the possible rate cut keep circulating, it would be interesting to hear the opinion of the BOC governor. Moreover, his comments will likely affect the performance of the Canadian dollar.

• If the BOC is hawkish, the Canadian dollar will go up;

• If the BOC is dovish, the Canadian dollar will go down.

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