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13 of the 19 economists that took part in a Reuters poll think that the Bank of Canada (BoC) will reconsider its inflation-targeting framework before the December 2021 policy review.

Further details of the poll showed that inflation in Canada is expected to average 0.7% in 2020 and 1.6% in 2021. Additionally, over 30 economists expect the BoC to keep interest rates unchanged at 0.25% until at least the end of 2022, per Reuters.

Market reaction

The USD/CAD pair largely ignored this headline and was last seen losing 0.25% on the day at 1.3093.

Expert score

5

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