16:08 July 12, 2023
The Bank of Canada (BoC) raised its overnight rate target to 4.75%, which is consistent with its quantitative tightening policy. The bank’s decision is in line with forecasts that called for a 25 basis point rate hike. The data is not surprising, but the prospects for further rate hikes will depend on further inflation data. The Bank of Canada also expects CPI prices to return to target levels in six months.
USDCAD 15 minute chartSource: xStation5 by XTB
ACTION at the TESTSIEGER 2023:
Disclosure according to § 80 WpHG for the purpose of possible conflicts of interest
The author may be invested in the securities or underlyings discussed.
The authors of the publications compile that information at their own risk. Analysis and opinions are not written with reference to the specific investment objectives and needs of any person. Publications by XTB that comment on specific situations in the financial markets and general statements by XTB employees regarding the financial markets do not constitute advice by XTB to the customer and cannot be construed as such. XTB is not liable for any loss arising directly or indirectly from decisions made regarding the content of the publications.
Risk Notice
CFDs are complex instruments and come with a high risk of losing money quickly because of leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Investment success and profits from the past do not guarantee success in the future. XTB content, newsletters and communications do not constitute investment advice promotional message to understand.