BoC caution limits Canadian Dollar gains against USD – Commerzbank
Commerzbank analyst Michael Pfister notes the Bank of Canada kept rates at 2.25% and sees little impetus for near-term tightening as core inflation eases and the economy weakens.
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The Bank of Canada held its policy rate at 2.25% at the latest meeting, according to Commerzbank analyst Michael Pfister. The bank’s cautious stance stems from easing core inflation and a sluggish real economy, leaving little room for near-term rate hikes. Market pricing now implies only one rate increase in the foreseeable future, which limits the Canadian dollar’s upside against the greenback.
Source: FXStreet Forex News