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Greg Gibbs, Founder, Analyst, & PM, Amplifying Global FX Capital Pty Ltd, an Australian financial services company explained that the market is on board for a BoC hike this week but appears to have been lulled into thinking that’s it until next year.  

Key Quotes:

“However, the Bank of Canada has policy set still well below neutral, despite an economy and inflation largely on target and growth above trend.”

“More likely is that they come off their mini pause and step up the pace to what will still be described as gradual policy tightening by hiking several times over the year ahead.”