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Jun 09 - 09:55 AM

CAD: No Change Expected From BoC; Room For NZD/CAD Upside - Citi

By eFXdata  —  Jun 09 - 08:30 AM

Citi discusses its expectations for today's BoC policy decision.

"Citi Economics and consensus expect no change at 0.25%. The pace of QE purchases should remain at CAD3bn per week after the reduction at the April meeting. The statement will likely maintain a sense of optimism about the resilience of economic activity, even despite a slightly softer than expected increase in Q1 GDP," Citi notes.

"With the BoC’s hawkishness looking less unique, and a divergence in valuation gaps, we see scope for CAD underperformance against NZD," Citi adds. 

Citi Research/Market Commentary


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