Here is the latest market commentary provided by First National Financial LP.
All eyes are on the U.S. Federal Reserve as it issues its latest policy statement. Everyone is looking for clues on when interest rates might move up and how the Fed plans to exit its easy monetary policy.
Many market watchers expect the phrase “considerable time” to disappear from the central bank’s pledge to keep interest rates near zero, where they have been since December 2008.
Several members and the Chair have taken to talking about timing hikes based on economic data, rather than the calendar. Some analysts believe the elimination of the “considerable time” wording could mean a boost as early as March.
What this means for Canada remains to be seen. But given the lack of concern the Bank of Canada and the federal finance department are displaying over the sinking Loonie, it doesn’t seem there will be any rush to match a U.S. increase, whenever it comes.
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