Bank of canada

To the surprise of no informed market participant, the Bank of Canada left interest rates unchanged at 1.75% in today’s monetary policy meeting. A pre-meeting Bloomberg poll of 24 economists showed this result was unanimously expected, so the “decision” itself didn’t lead to any meaningful market moves...

The Bank of Canada will deliver its interest rate “decision” and monetary policy statement in tomorrow morning’s US session. According to futures markets, traders are not expecting any changes to monetary policy tomorrow and only a 16% chance of a rate hike by the BOC’s July meeting.

Looking ahead, the upcoming week features interest rate decisions from three major central banks (RBA, BOC, and ECB), while data highlights include UK and US services PMIs, Aussie GDP, Chinese trade figures and jobs reports from both North American nations.