The Bank of Canada (BoC) is anticipated to keep its policy rate at 5.0%.
The Canadian Dollar remains trapped within a consolidative range.
Inflation in Canada has been losing upward traction since December.
Investors see a 70% probability of a rate cut in June.
There is widespread anticipation that the Bank of Canada (BoC) will maintain its policy rate at 5.0% for the sixth consecutive time during its upcoming policy meeting on Wednesday. A new Monetary Policy Report (MPR) with updated economic predictions, as well as a news conference, will accompany the bank’s decision on interest rates.
The Canadian Dollar (CAD) has been very slowly depreciating against the US Dollar (USD) since the beginning of the new year, although it appears to have been immersed in a broader consolidative theme since February.
In the second month of the year, the Consumer Price Index (CPI) recorded a continued downward trajectory in headline inflation, while the Bank of Canada's (BoC) Core CPI indicated some sticky price pressures. From the latest meeting, the bank’s statement expects inflation to linger around 3% during the first part of the year before starting to ease, albeit at a gradual pace.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.