Free Trial

CAD Rates Don’t Buy The Need For Further Hikes

  • The limited reaction in CAD markets meant that despite Governing Council remaining “prepared to raise the policy rate further if needed”, the market still doesn’t believe this will be necessary.
  • The first rate cut is still seen landing with the April decision, and with more than 50/50 odds it comes a meeting earlier in March.
  • 3M CORRA implied yields have dropped 1.5/2bps for 1H24 and 2/2.5bps for 2H24, with 120bp of 2024 cuts on a Z3/Z4 basis.

To read the full story



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.