Quote:
Originally Posted by Dion
My banker says there will be an interest rate cut on Monday.
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Looking ahead to next week, the major event of the week will be the Bank of Canada's interest rate announcement on Tuesday.
While a Reuters poll on Thursday showed that Canada's primary security dealers unanimously forecast the central bank to leave rates steady at 4.5 percent next week, attention will be paid to the tone of the bank's statement as the market seeks clues on the direction of monetary policy. "Last time around the tone was quite dovish, at least it opened the door to rate cuts," said Carlos Leitao, chief economist at Laurentian Bank of Canada. "But I think this time around they're going to play it safe and become a bit more hawkish, signaling there will be rate hikes once the money markets return to some sort of normalcy."
http://ca.today.reuters.com/news/new...-BONDS-COL.XML
Are they announcing it on Monday or Tuesday?
I figured they'd stand pat for the rest of the year.
Eh, but who knows, I guess we'll see next week.