The Week Ahead – The OPEC, BOC, RBA and RBI Meetings, China, Swiss and Norway CPI
Nomura – The Week Ahead
The Bank of Canada Expects to Leave Its Policy Rate Unaffected at 4.5%
We expect the Bank of Canada to leave its policy rate unchanged at 4.5% and we also think that forward guidance which has a conditional rate hike bias will be maintained to. But we are aware of the risk that a hawks rhetoric may be added to the statement. The currently the market pricing in seven basis point hike for the upcoming meeting, while four out of 32 market economists are expecting a 25 basis point hike.
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