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Poloz Takes the Reins at the Bank of Canada

Posted by WorldWideMarkets . on Jul 16, 2013 4:10:00 AM

New Bank of Canada Governor Stephen Poloz, who took over last month, chairs his first meeting on Wednesday. Rate futures pricing in a 99.2 percent change that Canada’s central bank leaves the benchmark rate unchanged at 1 percent. Poloz has been slightly hawkish and nothing to indicate that sentiment has or will change. As noted previously, much of the action in the loonie will depend on U.S. dollar strength on the back of expectations for the Fed, so nothing to excite investors at this meeting. Still, it will be interesting to see how Poloz settles in.canadian dollar trading

 

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