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Jan 10 - 02:55 PM

CAD: New Variant Unlikely To Delay The Hiking Cycle In Canada; Staying Bullish CAD M-Term - Barclays

By eFXdata  —  Jan 10 - 01:30 PM

Barclays Research discusses its expectations for the BoC policy trajectory.

"We continue to expect the BoC to hike three times in 2022 (April, July, October). We note risks of additional hikes or even an earlier start to the hiking cycle if inflation is stronger and more persistent than the BoC expects while the economic data continue to show resilience and the ability to withstand a hiking cycle. Upcoming data including the business outlook and consumer expectations surveys in coming weeks and BoC rhetoric will be important to assess an earlier move," Barclays notes. 

"We believe that the new variant is unlikely to delay the hiking cycle in Canada due to high inflation and the possibility of restrictions adding to supply chain concerns. We retain our medium-term bullish view on the loonie," Barclays adds. 

Source:
Barclays Research/Market Commentary

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