CAD: All eyes on BOC rate decision – TDS

By FXStreet FXStreet (Delhi) – Analysts at TDS, note that CAD investors will be keenly focusing on the Bank of Canada’s rate decision which is scheduled to release on 9th of September.

Key Quotes

“Bank of Canada decision (9 Sep): Eyes will be keenly focused on the Bank of Canada’s rate decision on Thursday. We expect no change in policy, as developments since the July MPR have largely supported the Governing Council’s forecast.”

“The GDP numbers for 2015Q2 came in bang-on the MPR forecast of a 0.5% q/q contraction, confirming that the Canadian economy underwent two consecutive quarters of contraction in the first half of the year. However, growth is poised to rebound in 15Q3, with a good hand-off from the production side numbers in June and a healthy turnaround in non-energy exports recent months.”

“Looking forward, lower oil prices will worry the Bank somewhat, but a depreciation in the Canadian dollar and lower long-term bond yields since their July meeting should more than offset the drag from lower oil.”
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Source:: FX Street