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The markets will see a rather busy week ahead with inflation forming the major theme across the board.

The Eurozone will be confirming its final inflation figures this week for the month of March. Mid-week, New Zealand will be reporting on its quarterly inflation data which covers the first three months of the year.

Finally, the UK and Canada will be releasing their inflation reports over the week.

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

No changes are expected to the central bank’s interest rates although the BoC could surprise the markets with hawkish forward guidance.

Data from the U.S. is relatively quiet this week with most of the data focusing on the housing sector.

Bank of Canada expected to hold rates steady

It is going to be a busy week for the Canadian dollar which will see both the monetary policy meeting alongside economic data which covers retail sales and inflation for the month of March.

The Bank of Canada is expected to hold interest rates steady at this week’s meeting at 1.25%.

The move comes amid various concerns on the trade deal with the United States.

Although the risks have seem to be somewhat abated for the moment, the BoC is unlikely to proceed with another rate hike.

The recently released Business Outlook Survey from the BoC showed that sentiment in the business community was improving and the BoC is thus likely to keep the status quo unchanged for the moment.

After the BoC’s meeting, the inflation data from Canada will be coming out.

Consumer prices are expected to rise at a steady pace during the month of March, following a 0.6% increase the month before.

This was a slower pace of increase in consumer prices.

Retail sales report will also be coming out this week which will offer insights into consumer spending patterns for the month.

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