BoC Forecast: Rate of hikes to slow to 25bp this week – Goldman Sachs

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Goldman Sachs economists believe it is the latest rate hike for Bank of Canada (BoC) this Wednesday, as central bank likely to pause tightening for the future.

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“Our economists expect the BoC slow the rate of rallies to 25 bps at this week’s meeting and pause thereafterassuming that inflation is in line with our forecasts.”

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“We will be more focused on any possible changes in future guidance or comments from Governor Macklem on the strength of the labor market.

“Generally, risks lean towards a pause next week rather than a bigger-than-expected rally in our opinion, meaning USD/CAD faces upside risks at the meeting. Until then, if the dollar generally continues to break lower, which seems to have few near-term hurdles, CAD is likely to see additional weakness on crosses.”

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Source: Fx Street

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