Canada BOC Overnight Rate 03/02/2010

Posted by Henry Liu on March 1, 2010 under CAD Interest Rate, Canada, Forex News Trade | Be the First to Comment

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 be issuing its Overnight Rate decisions once again today and this meeting will be watched by traders and speculators since interest rate policy serves as a tool to curb inflation and maintain price stability, making this news event probably the most important event for the day.

This is what I wrote for the last two BOC rate decision, I think the situation still remains mostly unchanged:

BOC Overnight Rate Decision 01/19/10

Posted by Henry Liu on January 18, 2010 under CAD Interest Rate, Forex News Trade | Be the First to Comment

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 first time in 2010, 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.

This is what I wrote for the last BOC rate decision, I think the situation still remains mostly unchanged:

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

Posted by Henry Liu on December 7, 2009 under CAD Interest Rate, Canada, Forex News Trade | Be the First to Comment

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…

Canada BOC Overnight Rate Decision 10/20/09

Posted by Henry Liu on October 19, 2009 under CAD Interest Rate, Canada, Forex News Trade | Be the First to Comment

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) renders its Overnight Rate decisions 8 times a year and today’s meeting will be widely watched by traders and speculators alike. Since interest rate policy serves as a tool to fight inflation and maintain price stability, this news event is probably the most important event from Canada for currency traders.

Although there are no official statements pointing to a surprise cut or 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, traders are anxious to see if BOC follows suit after RBA’s surprise rate hike last week.

Canada BOC Overnight Rate Decision 09/10/09

Posted by Henry Liu on September 9, 2009 under CAD Interest Rate, Canada, Forex News Trade | Be the First to Comment

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) council members meet 8 times a year and discuss where to set their current Interest rate. Since interest rate is directly related to inflation, it is probably THE MOST HIGH IMPACT news for traders who trade CAD crosses.  But since there are absolutely no expectation for a surprise cut or hike release, market will most likely concentrate on the accompanied statement by BOC Governor.

BOC Interest Rate Decision 07/21/09

Posted by Henry Liu on July 20, 2009 under CAD Interest Rate, Canada | Be the First to Comment

BOC (Bank of Canada) council members meet 8 times a year and discuss where to set their current Interest rate. Since interest rate is directly related to inflation, it is arguably THE MOST HIGH IMPACT news for currency traders who trade the CAD crosses.

Because of the low level that BOC has kept its interest rate and the current market condition, I don’t expect any surprises from the expectation of an unchanged verdict at 0.25%, as many BOC officials also confirm with their previous statements that the official rate will be kept at the current level until spring of 2009.