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- The Bank of Canada's view on the economic outlook will be more important for the Canadian dollar than the expected interest rate increase - Commerzbank
The Bank of Canada's view on the economic outlook will be more important for the Canadian dollar than the expected interest rate increase - Commerzbank
The Bank of Canada's view on the economic outlook will be more important for the Canadian dollar than the expected interest rate increase on Wednesday, which is already nearly fully priced in, says Commerzbank. What matters is "how optimistic the central bank will sound as regards the economic and inflation outlook and how quickly further rate hikes will follow as a result." This will depend partly on future U.S.-Canada trade negotiations and the future NAFTA deal. Commerzbank expects investors "to exercise restraint regarding the Canadian currency in view of the continued uncertainty about NAFTA - at least for the time being." USD/CAD up 0.3% at 1.3150. The BOC decision is due at 1400 GMT. It is expected to raise its key interest rates by 25 basis points to 1.50% - via Wall Street Journal
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