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What to expect from BoC's interest rate decision today at 17:00 local time

Bank of Canada

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Most experts expecting the central bank to hold its benchmark rate at 1.0%. The BOC surprised many by hiking rates for the second consecutive time at its previous meeting in September. Market odds of no move at this week's meeting rose to 81% from 73% after data on Friday showed that retail sales unexpectedly fell in August, pointing to a slowdown in growth after a hot first half of the year. Still, many are betting the central bank will have room to hike again in December, with market odds at around 50%.

Despite the expectations today, investors should be cautios of higher than regular volatility during the release of the decision consensus.

Jr Trader Alexander Kumanov


 Varchev Traders

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