Bank of Canada decision At 10 a.m. today, the BoC will announce its key rate decision. Although it is difficult to positively state that economic conditions have substantially improved in the country since the July rate cut, most analysts expect the BoC to opt for the status quo. The many uncertainties related to the economic outlook in China continue to trouble markets and have a negative impact on commodity prices, including crude oil, which despite a recent rebound, continues to trade at similar levels to those seen during the 2008 crisis, a situation that remains a concern for oil-producing nations like Canada.
These facts notwithstanding, certain factors could lead the BoC to stay the course on its bellwether rate. In addition to the strength of the U.S. economy, the Canadian job market has been astonishingly resilient, as shown by the most recent report, which saw more than 54,000 full-time positions created. However, it should be noted that the country's central bank has been known to surprise markets on several occasions.
To Read the Entire Report Please Click on the pdf File Below