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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.
Source: Bank of Canada
EXECUTIVE SUMMARY
- The Bank of Canada is widely expected to hike its overnight rate 75bps to 3.25% on Wednesday with only 5 of 30 analysts calling for a 50bp hike instead, following last month’s surprise front-loaded 100bp hike.
- Taking it above the BoC’s neutral 2-3% range, keen interest is on rate guidance and especially how strongly the Bank sees the need to increase rates ahead or whether it shifts to a more conditional stance.
- Any ambiguity will see particularly close focus on Rogers speaking on Thursday, with a subsequent appearance by Beaudry on Sep 20 coming after US CPI and just ahead of the Sept FOMC.
- With terminal rate expectations of circa 3.75%, there are two-sided risk with an arguable tilt to a dovish surprise.
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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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