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
Daily summary: Wall Street tries to stop the sell-off 📌Gold down 1.8%, Bitcoin loses 4.5%
BREAKING: Canadian Wholesale & Manufacturing Sales higher than expected 📊USDCAD reacts
BREAKING: EU GDP data slightly above expectations! 📈💶
DE40: European markets extend decline