he Bank of Canada (BoC) lowered its overnight rate by 50 basis points to 1.25. Josh Nye, Senior Economist at RBC Economics, points out a rate cut seemed like a foregone conclusion, particularly after the Federal Reserve’s emergency 50 basis point cut on Tuesday, “but the size of the move was a closer call”. They think the Bank will cut again in April. Key Quotes: “Primarily in response to economic risks posed by the global coronavirus outbreak and the associated tightening in financial conditions and declines in commodity prices. Slower underlying GDP growth and yet more transitory disruptions to economic activity (rail blockades, teachers’ strikes and winter storms) also contributed to the decision to cut rates.” “Markets were leaning toward a 50 bp cut—though it wasn’t fully priced in, as evidenced by a weaker Canadian dollar this morning—while we were expecting a more measured 25 bp cut followed by a similar move in April. With today’s statement leaving the door wide open to further easing, we still think the BoC is likely to cut in April in addition to today’s larger-than-expected move.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed ´s Bullard says rates are at the right level for now FX Street 3 years he Bank of Canada (BoC) lowered its overnight rate by 50 basis points to 1.25. Josh Nye, Senior Economist at RBC Economics, points out a rate cut seemed like a foregone conclusion, particularly after the Federal Reserve’s emergency 50 basis point cut on Tuesday, “but the size of the move was a closer call”. They think the Bank will cut again in April. Key Quotes: “Primarily in response to economic risks posed by the global coronavirus outbreak and the associated tightening in financial conditions and declines in commodity prices. Slower underlying GDP growth and yet more transitory disruptions to economic… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.