UNDER CLOSE ATTENTION: The decision on the monetary policy of the Bank of Canada!
Dear traders,
Today we are waiting for an active day! The calendar is full of news! For the main events of this day follow the link >>>
The most powerful event will be the decision on the monetary policy of the Bank of Canada!
“According to the forecasts of most analysts, the Bank of Canada, amid fears, will keep the interest rate at 1.25% as a result of its meeting.
The decision of the Bank of Canada will be announced at 5 pm (Kyiv). Market analysts give only 30% of the probability that as a result of this meeting, the interest rate will be increased.
Since July 2017, the central bank of Canada has raised the interest rate three times. However, as a result of its last two meetings, the Bank of Canada maintained its monetary policy unchanged due to a weak start in 2018 compared with the sharp economic growth last year.
Bank of Canada officials will closely monitor how debt-burdened Canadians and the real estate market react to the increase in the cost of borrowed funds. They are also interested in how the uncertainty about the renegotiation of the North American Free Trade Area (NAFTA) contract affected the amount of investment in the business.
On Thursday, investors’ attention will also be attracted by the report on Canada’s GDP growth. “(Investing.com)
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Have a good trading day, Gentlemen!
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