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July 10, 2018

IronFX, Heads up for BoC Interest Rate Decision on Wednesday

Volatility alert: Bank of Canada’s Interest Rate Decision on Wednesday.

The Bank of Canada is expected to announce its decision on the interest rate tomorrow, at 14:00 (GMT).

BoC is expected to hike rates by 25 basis points (bp), with interest rates reaching +1.50%.

Market is currently pricing in the probability of a 25 bp rate hike by 93.75%, according CAD Overnight Index Swaps.

We also see the case for a 25bp rate hike as recent financial data seem to favor such a scenario.

Please be advised though that uncertainty in trade relationships (especially with the US) may be an issue mentioned in the accompanying letter.

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