The Bank of Canada meeting minutes
The Bank of Canada left key interest rates unchanged as a result of the March meeting. In addition to the fact that the Central Bank of Canada kept interest rates unchanged, he noted the appropriateness of these rates. The text of the report said that interest rates are below the neutral range, in fact, refuting all the possibilities of tightening monetary policy in the future.
Separately, it is worth noting the concerns of the Bank of Canada regarding the USA and China trade confrontation and the reduction in the cost of raw materials. The Central Bank relies on them in its risks. Inflation expectations also remain quite low and below the target level of 2%.
In fact, the results of the Bank of Canada meeting have increased the pressure on the Canadian dollar, increasing its decline against the American dollar. The USD/CAD pair continues to strengthen, limited to significant overbought and resistance levels: 1.3450 and 1.3500.
USD/CAD chart. Current price – 1.3440
Read also: “Swedish Krona. Features of trading Scandinavian currencies “
Hanzenko Anton
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