Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

BoC’s Last Rate Hike But Risks for The Third Time in 2017


September, 08 2017
watermark Economic news

It appears that the Bank of Canada would not raise rates for the year as shown in the poll from Reuters despite the central bank is likely to be more aggressive and tighten for next year more than anticipated. The recent unexpected rate hike of the central bank on Wednesday has surprised everyone. This is the second rate hike and further rate hikes are plausible despite the steadfast economic growth of the country making it the top against other developed countries.  


There is a likelihood for the bank to raise its rates for the third time this year which depends on a strong economic data in consonance with the forecasts and four major dealers anticipate the to raise it in the last quarter of the year.


The overnight rate of the central bank is increasing to 1.75 percent by the end of 2017. It rose by twenty-five basis points which are more than the previous week forecast of the economists.


If the Federal Reserve did not raise its rates, this could push the Canadian dollar higher and overlook the economic condition as described by the chief economist of a bank. Although, the central bank of Canada is less concerned about the strong dollar which has been more lenient compared to the past which implies they are giving less attention to the currency.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.