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  • Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening

    From bankofcanada.ca

    The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%. The Bank is also ending reinvestment and will begin quantitative tightening (QT), effective April 25. Maturing Government of Canada bonds on the Bank’s balance sheet will no longer be replaced and, as a result, the size of the balance sheet will decline over time. Russia’s ongoing invasion of Ukraine is causing unimaginable human suffering and new economic uncertainty. Price spikes in oil, natural gas and other commodities are adding to inflation around the world. Supply disruptions ... (full story)

Added at 10:02am

Added at 10:04am
No surprises here. Hey Jerome Powell, save yourself some time; copy and paste this statement for the May FOMC
...because you never know - until you do!
welcome to BIG RECESSION and pre-pare for #XAU
Quoting fxsport
No surprises here. Hey Jerome Powell, save yourself some time; copy and paste this statement for the May FOMC
I think no need wait till next month, there is a chance fed will rising interest rate this month. Just my opinion
Quoting fxsport
No surprises here. Hey Jerome Powell, save yourself some time; copy and paste this statement for the May FOMC
That is a good one!!
No surprise and little to no reaction on USDCAD but looks like we're at the top of the currency pair... My question is, to buy lower or is this event going to add long term strength to the CAD meaning sell USDCAD??
Quoting BaliBoyz80
{quote} I think no need wait till next month, there is a chance fed will rising interest rate this month. Just my opinion
Oh you didn't hear? Jerome had surgery and cut them off and he is now a she and her name is Jeremine. So thereby the Fed will wait.
no rate hike , inflation up , rate hike recession , choose !
Quoting kwanelemsomi
No surprise and little to no reaction on USDCAD but looks like we're at the top of the currency pair... My question is, to buy lower or is this event going to add long term strength to the CAD meaning sell USDCAD??
Personally, long term, I believe USD is expected to have more rate hikes and momentum. CAD is going to find the bulk of it's value on OIL prices and demand, which has risen steeply since the pandemic. (plus the the russia embargos increases the demand) Oil should be the main indicator for Cad. I would say more or less depends oil.
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