1/20/2021 12:50:03 AM GMT
Status quo forecast at 0.25% for overnight lending rate, QE purchases.
Extended policy view sees no change for at least two years.
BoC statement and Governor Tiff Macklem speech and press conference will have market focus.
Canadian dollar retreats from near three-year high, WTI slips.
The Bank of Canada is widely expected to keep monetary policy and quantitative easing unchanged at its meeting on Wednesday in spite of new COVID-19 provincial lockdowns and a slowing economy.
Overnight lending will stay at 0.25% and the purchase program at C$4 billion a week though Ontario recently issued a stay-at-home order and most of the country is under some combination of social and business restrictions.
Following
USD/CAD Price Forecast 2021: The complications of COVID-19 on the loonie and the hope for a recoveryANALYSIS |
12/22/2020 4:21:29 PM GMT
Markets in 2021 turn on the defeat of the pandemic and resumption of normal economic activity.
Comparative statistics did not provide a rationale analysis for the USD/CAD 2020 ascent or decline.
Pandemic risk premium extraction dominated USD/CAD price trading in 2020 but ended in July at 1.3400.
Canadian dollar will start 2021 on a strong commodity note, fade as the US economy recovers.
This was the year without ambiguity. From the national economic catastrophes of the lockdowns to the closing of your favorite restaurant, from the US election to the politics of your local school board, COVID-19 touched everyone, destroyed much and left nothing unchanged.