Market pricing 85% chances for a hike at the October 25 meeting – RBC CM
With the dust having settled on the BoC meeting, markets are 85% priced for a hike at the October 25 (RBC economists’ forecast) and fully priced for a hike by yearend, notes Adam Cole, Analysts at RBC Capital Markets.
“So, arguably, the upside momentum for CAD from rate sentiment should start to fade from here. We revised our forecast profile for USD, lowering the end-Q3 target to 1.27 and flagging a possible test of 1.25 within the quarter, and we are not changing that after this week’s BoC meeting and MPR revisions.”
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