BOC monetary policy report and rate statement

BOC monetary policy report and rate statement

The Bank of Canada is set to deliver its interest rate at 17:00 MT time on July 12. The rate statement contains not only the outcome of the central bank’s decision on interest rates, but also a commentary about the economic conditions, which the regulator’s policymakers took into account while setting interest rates. The decision is one of the key drivers of the CAD.

The BOC’s comments from the last meeting implied the board’s shift to a tightening bias. As a result, it will be interesting to see whether the regulator still sticks to its guns or tilts towards less hawkish monetary policy options.

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