Bank of Canada expected to hold interest rates in today's policy decision

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The Bank of Canada, which last month expressed some worry about the impact of lower oil prices on the country's economy, is expected to leave its benchmark interest rate unchanged at 1.75 percent later on Wednesday.

The BoC pointed out that oil market issues "are occurring in the context of a Canadian economy that has been performing well overall".

The bank projects Canada's economic growth to be 1.7 percent in 2019, down from its October forecast of 2.1 percent.

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That support was on display on Thursday afternoon during a ceremony at Venezuela's military academy in Caracas. Anti-government riots in 2014 left 43 dead, and at least 125 people died in months of protests in 2017.

The Bank of Canada noted that household consumption and housing investment "have been weaker than expected" anyway, as Canadians struggle to adjust to the impact of tougher regulations weighing on the housing market, as well as the central bank's gradual increase of interest rates over the past 18 months as the economy has approached full capacity. But main focus of investors remain on Bank of Canada's Monetary Policy Update scheduled to release tomorrow and United States crude oil inventory data which is expected to boost CAD bulls as forecasts hint at draw in stock pile information.

The economy has been growing at a good pace, creating new jobs and pushing unemployment to a 40-year low. However, if the central bank turns out to be surprisingly more dovish than expected, then the CAD could give up a big chunk of its recent gains. In the third quarter - the latest quarterly data available - it provided only about one-third of growth.

The Bank of Canada now expects real GDP will grow by 1.7 per cent in 2019.

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The Appalachians will pick up ice and snow in the mountains of Virginia and North Carolina, forecasters said. The southern mountains of North Carolina near SC and Georgia will likely see more rain than sleet and snow.

The Bank of Canada has estimated it will no longer need to raise the rate once it reaches a "neutral" level of between 2.5 and 3.5 per cent.

"It's meant to inject a degree of ambiguity into the timing of this because obviously we're dealing with developments over the last few months that constitute a delay", Poloz said when pressed for an explanation.

"The global economic expansion continues to moderate, with growth forecast to slow to 3.4 per cent in 2019 from 3.7 per cent in 2018", the bank said in a press release. That trend looks likely to deepen as the impact of the oil decline ripples through the economy.

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Jayme told one of the neighbours in Gordon who took her in that she had walked away from a cabin where she had been held captive. Her discovery led to the arrest of suspect Jake Thomas Patterson, who police said was driving around searching for the girl.

There are too many unknowns about how the housing market will react to the cocktail of measures working to slow it down, said George Pearkes, chief macro strategist at Bespoke Investment Group. That's a shift from December, when Poloz described housing as "stabilizing". Extended housing uncertainty is yet another reason for consumers to run for cover. "The bank has over-tightened as it is", Rosenberg said Wednesday on BNN Bloomberg, adding he believes the hiking cycle has come to an end and it wouldn't surprise him if the next move was a cut. Home sales in the Toronto region fell 16 per cent in 2018, while in Vancouver they plunged 32 per cent. Unless this rotation kicks in, and soon, the Bank of Canada's downgraded projections for 2019 might prove optimistic.

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