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Policy
Policy
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Global Macro
Global Macro
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessBoC Preview - June 2020: BOC HOLDING THE LOWER BOUND
MNI Point of View:
The Bank of Canada is widely expected to keep its target rate on hold at 0.25% Wednesday as BoC governor Stephen Poloz passes the baton to Tiff Macklem. There will be no media lock-up or briefing; no Monetary Policy Report (next release July 15).
- Base Case: Steady as she goes as many view the state of the Canadian economy less downbeat after the country started staggered openings around mid-May as virus cases leveled out.
- Dovish: Break (zero) only in case of emergency -- a move to zero bound an option of last resort, analysts widely see any additional easing to come in the form of QE, credit and/or liquidity enhancing measures.
- Hawkish: Raising rates still not an option for the foreseeable future. While the rise in COVID-19 virus cases may have moderated, too many unknowns remain with no vaccine available.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.