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The BOC may highlight risks for the CAD

The BOC may highlight risks for the CAD

Information is not investment advice

The BOC rate statement will be published at 17:00 MT time on March 4. 

Instruments to trade: USD/CAD, CAD/JPY, CAD/CHF

The Bank of Canada bank releases the rate statement followed by the decision on the interest rate 8 times per year. While the interest rate may remain unchanged, the bank may provide its overview of the economic conditions and offer clues on the outcome of future decisions. At the previous meeting on January 22, the BOC kept its interest rate unchanged at 1.75%. The bank announced the risks remaining in the economy and noted that it will continue following them closely. The central bank's Governor Stephen Poloz did not exclude the possibility of a rate cut if the weakness of the Canadian economy is more persistent. The Canadian dollar weakened greatly after his dovish comments. As coronavirus continues making markets uncertain, let's see what Canada's regulator tells us this time.

  • If the BOC is hawkish, the CAD will get stronger;
  • If the BOC is dovish, the BOC will get weaker.

Check the economic calendar 

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The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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