Bank of Canada Outlook: 81% Probability of a Rate Hike to 2.50%; Report and Guidance to Drive CAD Trends - Moomoo
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Bank of Canada Outlook: 81% Probability of a Rate Hike to 2.50%; Report and Guidance to Drive CAD Trends Moomoo
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4 itemsBank of Canada preview: 81% chance of first hike in a year to 2.50%, economists split
Bank of Canada likely to hike again after today’s move
The desk sees potential for the Canadian dollar (CAD) to strengthen following the Bank of Canada's (BoC) recent rate increase. The BoC raised its policy rate by 25 basis points to 2.5%, indicating that this move is not likely to be an isolated hike, as policymakers express concerns over persistent inflationary pressures (per the full note [source]). Current market pricing shows a 50% chance of another hike in December, although the desk expects that any further tightening will materialize no earlier than the first quarter of 2027. This cautious but growth-oriented approach by the BoC aligns with favorable consumer spending data, propelling the outlook amid rising energy prices.
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