Central bank rate decisions linger
Central banks will draw some attention this week with both the RBA and the BoC due to announce their rates. IGTV’s Angela Barnes has this round-up.
(Video Transcript)
RBA, BoC to announce rate decisions
There are a couple of central bank decisions to draw your attention this week. Tomorrow, the Reserve Bank of Australia (RBA) is due to decide on its rates. Official cash rate is almost unanimously expected to remain at 4.1%.
On Wednesday, the Bank of Canada (BoC)... well, economists think Tiff McLean will keep the BoC overnight rate at 5%.
Pundits expect unchanged rates from RBA
Let's just bring up the Australian dollar/US dollar for you. And the latest Reuters poll on RBA rates show that almost all economists agree on unchanged rates as inflation shows signs of easing. A majority of them expect a final rate hike next quarter.
The Australian dollar this morning is still trading near 2023 lows against the greenback. And let's just now switch over to the US dollar/Canadian dollar chart.
No change also in Canada on Friday. The Canadian economy missed expectations. GDP growth rate was flat, quarter-on-quarter. Economists expected a 0.3% rise. Well, the Canadian dollar is trading near a three-month low against the US dollar.
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