CAD: Monetary Policy Decision of the Bank of Canada
Dear traders,
The decision of the Bank of Canada on the interest rate will be announced at 5 pm (Kyiv). Most experts suggest that the central bank of Canada will raise the interest rate by 25 basis points to 1.25%.
If the forecasts are confirmed, it will be the third increase of the interest rate for the last six months, due to the fact that the latest reports showed a steady growth of the Canadian economy.
However, some analysts warn that the Bank of Canada can wait for a while and not raise the interest rate so quickly.
The Central Bank of Canada raised the interest rate in July and September for the first time in seven years, but warned that the uncertainty about the renegotiation of the North American Free Trade Agreement (NAFTA) could affect the country’s economy.
Leading analyst of Ester A. Hanzenko has already published his opinion on this event. More details you can find here.
Have a successful trading, Gentlemen!
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