BoC meeting minutes
- Interest rate decision, fact 1.75%, forecast 1.75%.
As expected, the Bank of Canada retained key interest rates unchanged. The general tone of the Central Bank remained restrained negative. Thus, the Bank of Canada expects a decline in the consumer price index in the third quarter. The main concerns are related to trade conflicts, which caused a restrained tone for the Central Bank of Canada.
At the moderate tone of the Bank of Canada, the Canadian dollar reacted with a sharp decline against its main competitors. Such a movement was mainly connected with the position of the Bank of Canada, which took a waiting position.
The USD/CAD pair has updated a high at 1.3520, thereby confirming the three-month upward trend, but will be limited to overbought and resistance levels: 1.3520 1.3550.
Fig. USD/CAD chart. Current price – 1.3510
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Hanzenko Anton
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