Bank of Canada publishes July meeting minutes as markets await Fed decision

The Bank of Canada released its summary of deliberations from the July 15 policy meeting, where it held the key rate steady, early this morning. The release came roughly half an hour before the Federal Reserve’s own policy announcement, drawing attention to North American monetary policy.

The Canadian dollar traded cautiously, with markets weighing the BoC’s reasoning against the upcoming Fed guidance. The loonie’s near-term direction hung on whether the Fed would also hold rates or signal a different path, underscoring the currency’s sensitivity to U.S. policy expectations.