The Bank of Canada will publish a rate statement and an update on the interest rate on September 9, at 17:00 MT time.
Bank of Canada: a moment of truth
The Bank of Canada is due to deliver its interest rate decision and monetary policy report at 17:00 MT time on September 5. The rate announcement is a crucial factor for the CAD exchange rate, so traders pay special attention to the BOC meetings.
Canada’s inflation rose to 3% for the first time since 2011 in July. This unexpected increase puts pressure on the Bank of Canada to accelerate interest-rate hikes. Canadian central bank has already raised interest rates four times since last year to cool the economy. The market expects the BOC to increase the Overnight Rate by October. This won’t necessarily happen in September. Yet, the meeting will still be very important and lead to big swings in USD/CAD and other pairs containing the Canadian currency.
• If the Bank of Canada raises the Overnight Rate, the CAD will rise.
• If the Bank of Canada doesn’t raise the Overnight Rate and gives negative comments, the CAD will fall.
Canada will announce the Canadian retail sales and core retail sales on August 21, at 15:30 MT time
The Federal Open Market Committee will make its statement and announce the interest rate on July 29, at 21:00 MT time.
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The New Zealand interest rate is announced on Wednesday at 05:00 MT time.
Long time we haven't checked the S&P 500 stocks - there are interesting events and trends to follow.