• About Us
  • Authors
  • Currency Charts
  • Live Exchange Rates
  • Contact Us

Exchange Rate Forecast

Exchange rate forecasts and foreign currency news

  • British Sterling
  • Euro
  • US Dollar
  • Australian Dollar
  • Canadian Dollar
  • Brexit News
You are here: Home / Canadian Dollar / Bank of Canada expected to raise interest rates

Bank of Canada expected to raise interest rates

July 10, 2017 by Ben Fletcher

Bank of Canada expected to raise interest rates

The Bank of Canada are expected to raise interest rates on Wednesday at 4pm GMT. This will be the first interest movement in Canada since the two rate cuts that came in 2015. The hike will provide a huge confidence boost for the Canadian’s future and arguably after one hike, the second may not be too far around the corner.

Stephen Poloz who is the Governor of the Bank of Canada started the market speculation last week when he announced that low interest rates had served their purpose. This immediately raised expectations that the interest rate hike may be imminent. It is common place for central banks to leak information so that decisions don’t come as a shock.

The Canadian economy has started to pick up with inflation levels slowly increasing and growth starting to appear in different sectors. The imports and export figures for May were at record highs. One of the main factors for the increase is also the price of a barrel of oil. This time last year Canada’s biggest export dropped to a multi-decade low which had a major impact on the performance of the Canadian economy. Now that the price of oil has once again picked up Canada has started to see more profits.

There is always a chance that there won’t be a rate hike however if that was to be the case then I think it would be set up for a few months’ time. Stephen Poloz will speak after the announcement on Wednesday and will supply an insight into any future decisions the Bank of Canada might make.

Filed Under: Canadian Dollar Tagged With: Bank of Canada, CADGBP, GBPCAD, interest rates, Stephen Poloz

The information on this website is provided for information purposes only. It does not constitute advice to any person on any matter. Every reasonable effort is made to ensure that the information is accurate and complete but we assume no responsibility for and offer no warranty with regard to the same.

Recent Posts

  • Sterling finds support but unlikely to make any significant impact in the coming days May 9, 2018
  • US Dollar hits 5 month high against Sterling May 2, 2018
  • Sterling exchange rates at the mercy of political developments May 1, 2018
  • Pound weakens as political uncertainty once again raises its head May 1, 2018
  • Will Mario Draghi’s speech impact GBP/EUR? April 26, 2018

Live Exchange Rates

Archives




Copyright © 2021 — Currency.co.uk • All rights reserved. • Exchange Rate Forecasts • Privacy Policy •

We use cookies to ensure that we give you the best experience on our website. By using this site you agree to receiving cookies.I agreeRead Privacy Policy