BOC Overnight Rate Decision (Interest Rate Decision) 12/08/09

9:00am (NY Time) CA BOC Rate Decision   Forecast 0.25%      Previous 0.25%
ACTION:  USD/CAD  Depend on Market Condition

BOC (Bank of Canada) will renders its Overnight Rate decisions for the last time in 2009, and today’s meeting will be watched by traders and speculators since interest rate policy serves as a tool to curb inflation and maintain price stability, this news event is probably the most important event for the day.

Although there are no official statements or overwhelming market sentiment pointing to a possible hike, as BOC Governor Mark Carney stated in his last rate statement that BOC will maintain rates at low level until the end of first quarter 2010, but with the recent employment changes and GDP release from Canada, speculations of a possible hike or at least acceleration of their monetary policy might tilt the sentiment to a stronger CAD prior to the release…

However, if the release comes out as expected, we’ll pay attention to Carney’s statement; if Carney changes his stand over when BOC will hike rates, we’ll see market react with heavy volatility and possible see USD/CAD approaching the recent lows.

I’ll be trading this report and hopefully I’ll post the video back as soon as I can.

Related posts:

1. Canada BOC Overnight Rate Decision 10/20/09
2. Canada BOC Overnight Rate Decision 09/10/09
3. BOC Interest Rate Decision 07/21/09
4. ECB Minimum Bid Rate Decision (Interest rate decision) 12/03/09
5. RBA Cash Rate Decision 11/30/09 (Interest Rate Decision)
6. ECB Minimum Bid Rate Decision 11/05/09
7. UK MPC Official Bank Rate Decision (BOE Interest Rate) 12/10/09
8. SNB Libor Rate Decision (Interest rate) 12/10/09
9. BOE Official Bank Rate Decision Strategy 06/10/10
10. RBA Cash Rate Decision Trading Plan 07/06/10