Economists Forecast No Interest Rate Hike For Canada Until July 2011
Ottawa, Ontario, Canada (AHN) – Economists agree that the Bank of Canada will likely keep interest rates at its present level until July 2011.
They believe that Bank of Canada Governor Mark Carney will wait for developments in the U.S. economy and the eurozone.
The Canadian central bank is expected to release its decision on the key lending rate on Tuesday after the monetary board meeting.
The current key lending rate is still a low 1 percent. The governor kept it at that level due to uncertain economic conditions and a lower-than-expected third quarter growth rate due to weak trade and real estate investments.
The fixed-income markets predict 50-50 odds that the Bank of Canada will increase key lending rates in March and 100 percent chance in April.
According to the C.D. Howe Institute, the central bank should keep benchmark interest rates on Tuesday and on Jan. 18. It also forecast that by July next year the key lending rate should not exceed 1.5 percent.
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Daily forex forecast – 07/12/2010
The Aussie opens marginally lower against the greenback today at 0.9890.
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Daily forex forecast – 01/12/2010
The Australian dollar is struggling to hold its own above 96 cents of late as economic headlines are dominated by risk.
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Daily forex forecast – 24/11/2010
The Aussie opens sharply lower today at 0.9710 as risk appetite took a nosedive overnight. In the absence of any market-moving economic data, European sovereign debt concerns continued to occupy the minds of investors during local trade on Tuesday.
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Daily forex forecast – 16/11/2010
Motor vehicle sale figures in Australia for October decreased by -0.6% compared to the month prior.
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Daily forex forecast – 09/11/2010
A brief US Dollar rally saw the Aussie lose ground during onshore trade yesterday with a minor increase in October Job Advertisements failing to provide any support.
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US Dollar Forecast Turns Bearish on Fed Actions, S&P 500 Rallies
The highly-anticipated Federal Open Market Committee interest rate announcement sent the US Dollar reeling against the Euro and other key currencies, and the sharp break suggests the Greenback may continue to drop through upcoming trade. For weeks now we have argued that the USD’s fate may depend on the FOMC’s subsequent actions.
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Daily forex forecast – 05/11/2010
The Australian Dollar managed to hang onto its gains above parity yesterday despite softer-than-expected retail sales data. Australian retail sales rose just 0.3 per cent in September reducing expectations as to the pace of rate hikes in 2011.
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Daily forex forecast – 02/11/2010
Speculation on Monday the Bank of Japan intervened in currency markets sent the Aussie down to an intraday low of 0.9810 as the greenback strengthened against the Yen.
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IB FX Brief Greenback rebounds as Japanese hint at intervention
A coded Japanese warning to expect the unexpected and the forecast of a shrinking Chinese trade deficit have reversed the surge for Asian currencies against the dollar today. The rising greenback is also adding downside pressure to formerly ebullient commodity prices, which in turn is weakening demand for riskier and higher-yielding growth sensitive assets.
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