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The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). In its quarterly Monetary Policy Report (MPR), the Bank upgraded its economic growth forecast, stating “this largely reflects both strong population growth and a recovery in spending by households. Residential investment is strengthening, responding to […]

The post Bank of Canada Upgrades Outlook for Economy, Remains Silent on Rate Cuts appeared first on Action Forex.

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04/12/2023

Could BoC Remain Hawkish?

BoC meets on Wednesday; it could maintain its hawkish stance Market is preparing for a series of rate cuts in 2024 Loonie’s outperformance against the US dollar could pick up speed Last Bank of Canada meeting for 2023 December starts on a high note with the final BoC meeting for 2023 held on Wednesday and […]
24/04/2024

Slow Grind on Disinflation, RBA on Hold

Inflation was a bit higher than expected in the March quarter. It is declining, but it has a way to go for the RBA to be confident of returning to the 2–3% target range on the desired timetable. We expect the Board to keep rates on hold in May, and have pushed out the date […]
23/01/2024

JPY: Bulls Eagerly Await the BOJ’s Move

The yen has experienced significant fluctuations in recent weeks, initially gaining ground against the weakening US dollar in December but subsequently losing those gains as the dollar rebounded in January. USD/JPY reached 148.80 on Friday, the highest level since November 28, prompting concerns that if the yen continues to depreciate, the Ministry of Finance might […]