Bank of Canada meeting results - Ester Holdings
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Bank of Canada meeting results

  • Interest rate decision, fact 1.75%, forecast 1.75%.

The Bank of Canada kept the key interest rate unchanged, but the general tone of the Central Bank of Canada protocol turned out to be very negative, pointing to the aggravation of global risks and the worsening economic prospects after the July meeting. At the same time, the Bank of Canada management did not consider the possibility of stimulating the economy. Despite the possibility of a slowdown in inflation, which currently remains at a level of 2%.

Amid the soft rhetoric of the Central Bank of Canada, the Canadian dollar weakened across the market. The USD/CAD pair accelerated the growth, completely breaking the downward trend in recent weeks, as a result targeting on the resistance levels: 1.3150 and 1.3180-1.3200. But the weakening of the Canadian against the US dollar may also be limited by the US Federal Reserve meeting results.

Fig. USD/CAD chart

Read also: “Gold in the light of current events.
How long is its growth? ”

Hanzenko Anton


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