CIBC Lowers Canadian Dollar Forecast
- Category: CAD
The Bank of Canada will lower interest rates with two back-to-back 50 basis point interest rate cuts, which means a weaker Canadian Dollar than previously predicted.
The Canadian Dollar was sold after inflation proved softer than markets were expecting in September.
GBP/CAD is forecast to maintain its broader uptrend in the coming days.
The Canadian dollar is climbing after the economy added more jobs than expected in September, lowering the likelihood of an outsized rate cut at the Bank of Canada’s upcoming meeting.