4 Mar 2015
BNPP: BoC to do an RBA - eFXnews
FXStreet (Barcelona) - The eFXnews Team shares BNP Paribas’ view regarding the BoC rate decision today, with BNPP expecting the central bank to follow suit the RBA and keep rates on hold.
Key Quote
“We expect the BoC to follow the RBA in refraining from cutting rates, with the case for staying on hold more clear-cut following a positive Q4 GDP report and earlier from BoC Governor Poloz who said the Bank was willing to wait and monitor the impact of the January cut.”
“Furthermore, with oil prices rebounding somewhat the immediate catalyst for a follow up easing move is lacking in our view.”
“We continue avoid USDCAD but do see opportunities to be bullish CAD as the currency has not fully reacted to the improvement in yields as near-term rate cut expectations have been priced out.”
This content has been provided under specific arrangement with eFXnews.
Key Quote
“We expect the BoC to follow the RBA in refraining from cutting rates, with the case for staying on hold more clear-cut following a positive Q4 GDP report and earlier from BoC Governor Poloz who said the Bank was willing to wait and monitor the impact of the January cut.”
“Furthermore, with oil prices rebounding somewhat the immediate catalyst for a follow up easing move is lacking in our view.”
“We continue avoid USDCAD but do see opportunities to be bullish CAD as the currency has not fully reacted to the improvement in yields as near-term rate cut expectations have been priced out.”
This content has been provided under specific arrangement with eFXnews.