Home The Bank of Canada removed “cautious” from statement – BoC
FXStreet News

The Bank of Canada removed “cautious” from statement – BoC

The Bank of Canada removed “cautious” from the monetary policy statement, suggesting a slightly less data-dependent approach to policy normalisation.

Key Quotes:

“This should lead the market to price in a July hike with more conviction.”

“Furthermore, clarification of the reasoning behind the change will likely come from BOC officials ahead of the July meeting, which could provide further hawkish surprises.”

“Tactically, we see opportunities for CAD longs against other commodity currencies into the July BOC meeting.”

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.