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Thomson Reuters
Jan 04 - 01:24 PM
USD/CAD: Towards 1.32 In Q1; BoC On Hold Next Week But Will Leave Door Open To Further Hikes - BofAML
First appeared on eFXplus on Jan 04 - 12:00 PM

Bank of America Merrill Lynch Research discusses its expectations for next week's BoC January policy meeting.

"We expect the BoC to remain on hold on 9 January at 1.75%. We expect the MPR to cut GDP growth and inflation forecasts.

We expect a statement that leaves the door open for further hikes.

We expect two hikes in 2019 (March/April and October).

We expect a lower rate trajectory with 10y CAD at 2.3% by end-2019. USD/CAD to converge to 1.32 in 1Q," BofAML projects. 

 

Source:
BofA Merrill Lynch Research/Market Commentary

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