Bank of Canada Governor Stephen Poloz to speak in British Columbia
The market is uncertain about what the Bank of Canada will do next after Poloz said the BOC actively discussed cutting rates last month.
The market is pricing in a 7.1% chance of a December cut, a 12% chance of a Jan cut and a 17% chance of a March cut. Those numbers seem awfully low. A dovish hint here could send USD/CAD on its way to 1.35 and above.
Poloz's speech today is titled 25 Years of Inflation Targets: Certainty for Uncertain Times.
The text will hit 15 minutes before the top of the hour. The speech will be broadcast starting 15 minutes later and he will host a press conference at approximately 1:15 pm ET (1715 GMT).
