Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

UPDATE 1-Economy expected to recover after contraction -Bank of Canada

Published 2015-09-16, 02:22 p/m
© Reuters. UPDATE 1-Economy expected to recover after contraction -Bank of Canada

(Adds background)
WINNIPEG, Sept 16 (Reuters) - After contracting in the first
half of the year, Canadian economic activity is expected to
recover with currency-sensitive export sectors regaining
momentum, Bank of Canada Deputy Governor Agathe Cote said on
Wednesday.
In a presentation in Winnipeg, Cote said the current level
of the Canadian dollar is consistent with its historical
relationship with oil prices. U.S. economic activity is also
expected to accelerate, she said.
Cote's comments were in line with the bank's most recent
economic assessment released in July. The central bank has cut
interest rates twice this year to try to bolster an economy that
has been hit by the cheap price of oil.
Markets see a more than 80 percent probability the bank will
hold rates at 0.50 percent when it makes its next decision in
October.
In contrast, policymakers in the United States began a
two-day meeting on Wednesday to decide whether to raise interest
rates for the first time in nearly a decade. Most experts see a
slightly higher probability the Federal Reserve will stand pat
for now.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.