Flash: Policy continuation at the Bank of Canada - UBS

FXstreet.com (Córdoba) - On Wednesday, Governor Stephen Poloz kept its policy rate unchanged at 1% at his first meeting at the BoC.

Expect a recovery of the CAD

"However, most importantly Stephen Poloz kept the whole policy communication almost identical to his predecessor", says the UBS analyst team. "Some feared that his previous position at Export Development Canada would lead to sympathy to the export sector and thereby a weaker CAD. This fear was cleared today. We continue to expect a recovery of the CAD".