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COPPER TECHS

(H2) Recovery From The 50-Day EMA Extends

PIPELINE

Heavy Midweek Issuance Over $31B

CROSS ASSET

Bonds and tech gains

US TSYS

Post-Data

LATAM FX

Price Signal Summary: USDBRL Bear Cycle Extends

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Adept at threading the policy needle over the past one-plus year, the challenge for the Bank of Canada is weighing the rise in inflation, surge in employment and uncertainty over the Omicron-Covid heading into the winter.

While markets are pricing in a March 2022 liftoff, the first rate hike since October 2018, some dealers posit the pace may accelerate with the bank giving a nod toward tighter policy at the December meeting for a hike in January or January nod for March. Announcement Details:

  • 1000ET Interest rate announcement for the overnight rate target together with a short explanation of the factors influencing the decision. There is no briefing or webcast scheduled for the event while the press release will be available at 10:00 (ET) on the Bank’s website.
  • Bank of Canada Deputy Governor Toni Gravelle will present an Economic Progress Report via webcast at 1400ET on Thursday, December 9. The Governor’s text will be available on the Bank’s website. At approximately 1515ET, the Deputy Governor will hold a press conference via teleconference only. Audio and video webcasts of the speech and media questions will be available.
  • The next rate announcement on Wednesday, January 26, 2022, will include the quarterly Monetary Policy Report. The next Business Outlook Survey and Canadian Survey of Consumer Expectations will be published Monday, January 17, 2022.