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Sep 06 - 09:55 AM

CAD: BoC To Hike 75bps On Wed But USD/CAD Likely To Continue Higher In September - BofA

By eFXdata  —  Sep 06 - 09:15 AM

Bank of America Global Research discusses its expectations for tomorrow's BoC policy decision.

"We expect the BoC to hike the policy rate by 75bp to 3.25% on 7 Sept. to put it above the neutral range. Risks are balanced. Once the policy rate is in tightening territory the BoC will likely resume a gradual pace en route to 4.0% to tame inflation," BofA notes.

"We expect CAD yields to decline heading into year-end. Our base view is for the USD/CAD uptrend to continue in September," BofA adds. 

Source:
BofA Global Research

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