BOC Rate Statement

BOC Rate Statement

The Bank of Canada (BoC) will announce its interest rate decision at 17:00 MT time. Short-term interest rates represent one of Canadian dollar’s key drivers. 

At its December meeting Canadian central bank didn’t change its benchmark rate from 0.50%. The BoC was encouraged by higher oil prices, improving domestic economic data and weaker national currency. 

Traders will be looking for hints on the BoC’s future intentions in its monetary policy report, rate statement and the following conference. Currency pairs with CAD will feel the impact of these events. 

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