FOCUS OF THE DAY: Bank of Canada monetary policy decision!
Dear traders,
The Bank of Canada interest rate decision will be announced at 17:00 Kiev time. Most experts suggest that the central bank of Canada will raise the interest rate by 25 basis points to 1.75%.
If the forecasts are confirmed, it will be the third interest rate increase since July 2017.
Canadian central bank officials are planning to raise the interest rate twice more in 2019 if the Canadian economy continues to grow rapidly in the coming quarters thanks to increased demand from the US due to tax cuts.
A deal at the end of September to revamp the North American Free Trade Agreement (NAFTA) has reduced the risk of Canada’s exports being disrupted, setting the stage for more interest rate hikes from the central bank. (Investing.com)
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