Jump to content

Bank of Canada Raises Interest Rates by 75 Basis Points


Recommended Posts

BANK OF CANADA, USDCAD - TALKING POINTS

  • Bank of Canada raises policy rate by 75 basis points
  • USDCAD gyrates below 1.3200 following rate hike

Bank of Canada Raises Interest Rates by 75 Basis Points

The Bank of Canada (BoC) raised interest rates by 0.75% on Wednesday, firmly in-line with the market expectations. The rate hike comes as Canada looks to cool inflation that sits at 40-year highs. Majority of economists surveyed prior to the rate hike saw a 75 basis point move, with money markets were also effectively priced for 75 bps.

The hike brings the policy rate to 3.25%, the highest among major advanced economies. This also sees the BoC enter “restrictive” territory, as the bank remains keen on lowering sticky inflation. The policy statement showed that central bank officials remain keen on continuing rate hikes in the near future, stating the “Governing Council still judges that the policy rate will need to rise further.”

CANADIAN ECONOMIC CALENDAR

Bank-of-Canada-Raises-Interest-Rates-by-

Courtesy of the DailyFX Economic Calendar

 

Sep 7, 2022 | DailyFX
Brendan Fagan, Contributor

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,632
    • Total Posts
      91,899
    • Total Members
      41,911
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    PBEE
    Joined 25/03/23 10:02
  • Posts

    • Charting the Markets: 24 March The FTSE 100, DAX 40 and Nasdaq 100 slide on renewed banking woes while EUR/USD, EUR/GBP and GBP/USD drop as the US dollar, gold appreciate due to flight-to-quality flows. Crude oil and copper tumble on recession fears.  Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 24 March 2023         This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.  
    • Market Breakdown | WTI Oil, EURUSD, GBPNZD, EURAUDHere are the updates & outlook for multiple instruments in my watchlist.1️⃣ WTI Oil daily time frame️The market is trading in a long term bearish trend .After the last sharp bearish movement, the market is steadily recovering.Ahead, I see a major horizontal supply area.Probabilities are high, that the next bearish wave will initiate from there.2️⃣ EURUSD daily time frameAfter a breakout of a solid daily resistance, the market is preparing for its retest.Watch carefully the underlined zone and look for buying opportunities from there.3️⃣ EURAUD weekly time frameThe pair is currently approaching a weekly horizontal resistance cluster.Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that4️⃣ GBPNZD daily time frameThe pair is currently retesting a broken neckline of an ascending triangle . As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now.Chances will be high that the next bullish wave will initiate quite soon.For Additional confirmation use: Divergence Indicators
    • #CHFJPY: Classic Bearish Setup 🇨🇭🇯🇵   🔻CHFJPY has nicely respected a confluence zone based on a horizontal 4H resistance and a 0.5 retracement of the last bearish impulse.   The price formed a double top pattern on that and broke its neckline.   Probabilities will be high that the pair will drop lower soon. Goals: 141.172 / 140.363  
×
×
  • Create New...