CAD traders heads up - Bank of Canada Governor Macklem speaking soon

Author: Eamonn Sheridan | Category: Central Banks

Macklem will be speaking in parliament before an upper house committee. The boss pulls the night shift!

The BoC effectively bought a little time for loose monetary policy when its comments on tapering a few months back acted to support CAD, the gains for the currency have, in effect, been a defacto tightening (a little, not a lot). 

With the FOMC on Wednesday indicating in its dots that Fed policy tightening may well be nearer than it thought (ForexLive Americas FX news wrap: Dots deliver a dollar boost) the free ride the BoC has enjoyed looks like its over. 

A response from Macklem tonight (CAD time) to the FOMC, if he has one, is going to be of much interest. Coming up at 2230 GMT. 

Macklem Carney
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