The BOC is clearly on some kind of communications offensive
Poloz popped up in an interview on CBC Radio.
- It's not time to throw a party over the recovery
- Interest rate cuts have done their job
- Interest rates have been low to offset shocks
The odds of a Bank of Canada hike before year end have risen above 60% from below 30% pre-Wilkins.
USD/CAD is down 85 pips today despite some sogginess in oil over the past hour.
The April low is the next key support level.
