Don’t waste your time – keep track of how NFP affects the US dollar!

Thank you for visiting our website

The ASIC policy prohibits us from providing services to clients in your region. Are you already registered with FBS and want to continue working in your Personal area?

Personal area

Facebook like

How will the Bank of Canada Interest Rate Statement Affect CAD?

How will the Bank of Canada Interest Rate Statement Affect CAD?

Updated

What will happen?

Reserve Bank of Canada will announce the interest rate at 17:00 (GMT+3) on Wednesday, September 8.

It's the primary tool the Bank of Canada uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

In the past statement on July 14, BAC did not make any changes in the interest rate, but it tightened the government securities purchase rate from 3 to 2 billion Canadian dollars weekly.

At the past conference with the Bank of Canada on July 14, USD/CAD grew by 0.5%.

Screenshot_8.png

Canada interest rate, %

How to trade on the BOC Rate Statement?

  • If the statement is more hawkish than the forecast, the CAD is likely to strengthen against other currencies.
  • If the statement is more dovish than expected, the CAD is likely to weaken against other currencies.

Instruments to trade: USD/CAD, CAD/CHF, CAD/JPY

LOG IN

Deposit with your local payment systems

Be on top of your game

Got questions? FBS Oceania Customer Support is ready to help!

Contact us via email at support@fbsaustralia.com

or

Start Live Chat