The Bank of Canada is likely to keep interest rates steady on Wednesday in its f...
TORONTO - The Bank of Canada is likely to keep interest rates steady on Wednesday in its first policy announcement since the federal election, despite signs that investors seeking higher-yielding currencies are shifting more money into Canadian dollars.
While increased fiscal spending could boost Canada’s economy, a stronger currency could make it harder to raise the share of export-led growth, something that is more sustainable and that Bank of Canada Governor Stephen Poloz has been counting on. “If the Fed cuts while the Bank of Canada holds its fire, you will have Canadian central bankers faced with the fact that the overnight rate north of the border is now the highest in the developed world,” said Royce Mendes, senior economist at CIBC Capital Markets.
Speculators have raised bullish bets on the loonie to the highest since February 2018, data from the U.S. Commodity Futures Trading Commission showed.“The bottom line is that the Bank of Canada does not want to cut rates at all,” said Christian Lawrence, senior market strategist at Rabobank. “I think we will see the Bank of Canada, and Poloz in particular, just grab onto anything positive and keep running with it.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Russian Trusova, Japan's Hanyu dominate Skate CanadaAn inspired Alexandra Trusova of Russia landed three quadruple jumps as the Russ...
Lire la suite »
Microsoft funded an Israeli firm that surveils West Bank Palestinians, according to NBC News investigationMicrosoft has invested in a startup that uses facial recognition to surveil Palestinians throughout the West Bank, in spite of the tech giant's public pledge to avoid using the technology if it encroaches on democratic freedoms. NBC's investigation comes at a time when Microsoft is positioning itself as a moral leader among technology companies, a move that has shielded the company from sustained public criticism faced by others like Facebook and Google.
Lire la suite »
Exclusive: Lebanon needs solution to crisis in days - Central bank governorLebanon needs a political solution to the country's crisis in days to regai...
Lire la suite »
Lebanon's central bank urges quick solution to avoid future collapseLebanon's central bank governor said on Monday a solution must be found in ...
Lire la suite »
Ford to cut 450 jobs at Canada plant on Flex, Lincoln MKT production haltFord Motor Co will cut about 450 jobs at its Oakville assembly plant in Ontario,...
Lire la suite »