Expectations for today’s Bank of Canada rate decision are low – consensus expects rates to be maintained at 1%. Thus the real driver for the currency will be in the Bank’s statement. Last October, the BoC said that the “Governing Council will be cautious in making future adjustments in the policy rate”. Markets focused on the word “cautious”, believing that the outlook for further hikes in 2017 w…

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Bank of Canada Governor Poloz likes to keep an element of surprise in his announcements. Following the BoC’s first interest rate hike last summer, many expected the Bank to wait until October for its next rate hike. The upcoming October meeting will include a refresh of the BoC’s Monetary Policy Report – a detailed study of economic conditions, as well as a press conference. Instead, Poloz decide…

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