Bank of Canada

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Week Ahead – Inflation data for US, UK and Eurozone to set the tone but all eyes on Fed Meeting

Posted on June 12, 2015 at 12:10 pm GMT

The week ahead is set to be a significant one for monetary policy as May inflation figures are published for the US, UK, Eurozone and Canada. Central bank decisions for Switzerland, the US and Japan will be closely watched, especially the Fed’s June meeting. The US will start the week with industrial production figures out on Monday. They are expected to show industrial production expanded by a monthly 0.2% in May, versus -0.3% in April, while the Empire State Manufacturing [..]

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European Session – Euro falls to 11-year low, loonie rebounds after BoC holds rate

Posted on March 4, 2015 at 3:28 pm GMT

The Canadian dollar strengthened after the Bank of Canada rate announcement and statement. As was mostly widely expected, the Bank held rates steady at 0.75%. This comes after Tuesday’s stronger fourth quarter GDP data. The greenback fell versus the loonie after the data to a low of 1.2487 from a pre-data high of 1.2542. Against the yen, the dollar was steady, keeping within a range of 119.46 and 119.81. The US dollar was stronger against the euro and the pound [..]

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Forex News – Canadian dollar rises after BOC statement

Posted on December 4, 2012 at 3:01 pm GMT

The Canadian dollar strengthened sharply against the US dollar after the Bank of Canada interest rate decision and policy statement on Tuesday. The Canadian central bank kept the benchmark interest rate unchanged at 1 percent but kept it rate hike bias. Thus an increase in the rate will likely occur despite a soft economy right now. In a statement the BOC said the following: “Over time, some modest withdrawal of monetary policy stimulus will likely be required, consistent with achieving [..]

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Forex News – Canadian dollar jumps after BOC maintains rates

Posted on October 23, 2012 at 1:34 pm GMT

The Canadian dollar surged against the US dollar after the Bank of Canada did not raise interest rates today. The BOC announced that it is maintaining its target for the overnight rate at 1 per cent. The central bank has maintained this low rate for two years and has until recently been talking about higher rates, making it the only major central bank to do so. Governor Mark Carney caused a slight stir in April when the Bank of Canada [..]

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