The Bank of Canada left its benchmark interest rate unchanged at the effective lower bound of 0.25 %, as widely expected. Central bankers decided to scale back government bond purchases by $1billion per week to a rate of $3billion per week. Central bank expects GDP growth at 6.5% compared to January estimates of 4.0%. Inflation is expected to rise temporarily to around the top of the 1-3 percent inflation-control range.
USDCAD fell sharply after today's BoC interest rate decision and is heading towards support lat 1.2526. Source:xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
