The Bank of Canada raised its policy rate Wednesday to +0.75% from 0.50%, its first increase in seven years, on an improving economic outlook that’s soaking up unused labor and production capacity at a “significant” pace.
USD/CAD down -0.6% to C$1.2834
BOC: Recent Data Have Bolstered Confidence in Outlook
BOC: Canadian Economy “Has Been Robust”
BOC: Outlook “Warrants Withdrawal of Some” Monetary Stimulus
BOC: Future Rate Decisions to Be Guided By Data
BOC: Mindful of Trade-Policy Uncertainty, Financial Stability
BOC: “Significant Amount” of Economic Slack Has Been Absorbed
BOC: Output Gap to Close By End of 2017
BOC: Upgrades 2017 Growth to 2.8%, 2018 Growth to 2%
BOC: Forecasts 3% Annualized Growth in 2Q, 2% in 3Q
BOC: Growth Becoming More Sustainable; Broadening Across Regions, Sectors
BOC: Exports Should Make “Increasing Contribution” to Growth
BOC: Softness in CPI Due to Temporary Factors
BOC: Expects Inflation to Return “Close” to 2% Target By Mid-2018
BOC: Appropriate To Raise Rates Given Lag Between Monetary Policy, Future CPI
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Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments.
He has a deep understanding of market fundamentals and the impact of global events on capital markets.
He is respected among professional traders for his skilled analysis and career history as global head
of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean
has played an instrumental role in driving awareness of the forex market as an emerging asset class
for retail investors, as well as providing expert counsel to a number of internal teams on how to best
serve clients and industry stakeholders.