USD/CAD has traded lower after the Bank of Canada opted to hold rates at 2.75%.
Macklem will be asked about what’s next as the market prices in a 50/50 outcome of the June meeting.
This article was written by Adam Button at www.forexlive.com.
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The Bank of Canada (BoC) held its policy rate at 2.75%, following seven straight announcements where the bank cut rates. The bank’s outlook recognized that the “economy is slowing as tariff announcements and uncertainty pull down consumer and business confidence. Consumption, residential investment and business spending all look to have weakened in the first quarter. […]
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BoC left its overnight rate unchanged at 2.75% today. BoC reiterated its intention to “proceed carefully,” noting a wide range of uncertainties. Key among these are the drag from US tariffs on Canadian exports, and the downstream effects on business investment, employment, and household spending. The central bank also flagged concerns about how quickly cost […]
The post BoC holds at 2.75%, warns prolonged trade war could trigger 2025 recession appeared first on Action Forex.
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