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July 9, 2018

Orbex, What to expect from Bank of Canada's Monetary Policy Meeting this Wednesday?

BoC – To hike rates or not!

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This article is originally referred from Orbex Market Preview.

The Bank of Canada will be holding its monetary policy meeting this week on Wednesday.

Heading into the BoC’s meeting investors are divided on whether the Bank of Canada will announce another rate hike. Canada’s interest rates currently stand at 1.25%.

The last rate hike from the BoC came in December 2017.

The recent economic trends in Canada pointed to a mixed picture. Retail sales were weak alongside the pace of job growth following a strong performance two months ago.

However, on the brighter side, wage growth was seen advancing solidly.

Consumer prices in Canada grew at a relatively weaker pace, but still remained close to or above the BoC’s inflation target rate.

The Bank of Canada is likely to weigh all the factors before deciding on whether to hike interest rates or not at this week’s meeting.

While the current market expectations point to no rate hike, it would be hard to predict on the next policy action from the BoC at this week’s meeting.

Despite the overall economic indicators pointing to a relatively stable pace of growth, the global trade tensions are likely to play a key factor in determining the interest rates at this week’s meeting.

Original Source: Orbex Market Preview

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