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CAD: Trading The BoC - Views From Major Banks
The following are brief expectations forthe BoCJuly meeting on Wednesday as compiled from the related research reports of 10 major banks. Overall the consensus expects the BoC to deliver a hike while only TD Research and Goldman Research see the BoC on hold. On the CAD front, the consensus thinks that a hike is largely in the price and as such risk-reward seems to favor fading CAD strength around the meeting. TD Research:We still think it is likely to be a much closer call than current market pricing suggests and look for the Bank to deliver a hawkish hold instead of a 25bp rate hike. Given that the rates market is ... (full story)