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MUFG: BOC in no rush to hike, bad news already priced into CAD

MUFG suggests that the Bank of Canada (BoC) may not be in a hurry to increase rates, especially after the recent disappointing Q2 GDP report. However, they also note that the Canadian dollar (CAD) is trading at undervalued levels, suggesting that much of the bad news is already priced in.Key Points:GDP Contraction: The Canadian economy unexpectedly contracted by 0.2% in Q2, following a downward revision of Q1 expansion to 2.6%. This marks the second contraction in the last three quarters.Less Pr... Read More

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Posted: Sep 5 2023, 18:12

Author Name: forexlive

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