A preview of the expected volatility around the BoC interest rate decision due on Wednesday 15 April 2020.
At 10am NY time, which is 1400GMT
- the Bank of Canada statement
- and Monetary Policy Report
Following at 11.15am (which is 1515GMT) is the press conference held by Governor Poloz and Senior Deputy Governor Wilkins
The 10am announcement and report is complicated by the cancellation of the embargoed press lock-up. This due to Ontario's ban on gatherings of five or more people.
So, normally the financial media is allowed access to the information early, to prepare their reports for publication at the announcement time. But this will not happen this time around - deciphering the announcement and report will happen at the announcement time - the headlines will hit in real time, analysis on the fly. This is likely to exacerbate market volatility around the announcement time.
Forewarned is forearmed!
I'll have more to come separately on the likely substance from the BoC.
