The Bank of Canada left its benchmark interest rate unchanged at the effective lower bound of 0.25 %, as widely expected. Central bank will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate. This is reinforced and supplemented by the Bank's quantitative easing (QE) program, which continues at a target pace of $3 billion per week.
USDCAD - initially currency pair fell after however buyers manage to quickly regain control and price is approaching the resistance at 1.2072
BREAKING: U.S. CPI shows persistent inflation pressure! Dollar Strengthens After Data Release!
📉 EURUSD down 0.3% ahead of April’s inflation
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What to look out for this week❓
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