BoC could reinforce CAD weakness – MUFG USDCAD BOC InterestRate Banks Canada
Economists at MUFG Bank see Bank of Canada caution at its meeting this Wednesday. Thus, the Loonie could come under pressure.“We expect to see a degree of caution from the BoC given the flow ofclearly points to downside risks.
“Weaker economic data in Canada, optimism globally over peak inflation, and slower growth emerging more clearly in the US all suggest the BoC is close to ending its tightening cycle. Any sense of that this week would reinforce our view of CAD underperformance versus G10 becoming the norm going forward.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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