USD/CAD prepares to test weekly lows around 1.3320 ahead of Bank of Canada policy USDCAD BOC Fed GDP SEO
Bank of Canada to tighten policy further
According to a poll from Reuters, Bank of Canada Governor Tiff Macklem’s aggressive policy tightening campaign is expected to calm down as the street sees a further interest rate hike by 25 basis points to 4.50%. Also, it conveys that the Bank of Canada will keep interest rates at 4.5% for the rest of the year, which indicates that this might be the end of further policy tightening. Canada’s headline inflation stood at 6.
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