Central banks have been known to sugar-coat bad economic data, on the premise that overt pessimism might hurt confidence. The 4 March Bank of Canada (BoC) Statement following its 50bps policy rate cut made no such effort, in the opinion of the economists at Standard Chartered Bank, who are expecting two more rate cuts in 2020. Key quotes “We now think the BoC will cut the policy rate at least 50bps in the coming months, most likely via two 25bps cuts at the 15 April and 3 June meetings. “ Previously, we expected the BoC to cut once in Q1- 2020 and be on hold thereafter. We now see the policy rate at 0.75% at yearend 2020 (1.50% prior). “Our pace of easing would still leave Canada’s policy rates above US rates; we may review our outlook if the Fed is more aggressive than we expect or the Canadian economy follows a steeper downward path than the BoC anticipates.” 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 NZD/USD: Rallies to be capped – ANZ FX Street 3 years Central banks have been known to sugar-coat bad economic data, on the premise that overt pessimism might hurt confidence. The 4 March Bank of Canada (BoC) Statement following its 50bps policy rate cut made no such effort, in the opinion of the economists at Standard Chartered Bank, who are expecting two more rate cuts in 2020. Key quotes “We now think the BoC will cut the policy rate at least 50bps in the coming months, most likely via two 25bps cuts at the 15 April and 3 June meetings. “ Previously, we expected the BoC to cut once in Q1-… 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.
