BOC Decision: Canadian Dollar Crumbles as Poloz Capitulates & Cuts

The BOC Decision: Canadian Dollar Crumbles as Poloz Capitulates & Cuts will be released today, September 8th. The Wall Street Journal is calling it the most important day in the Canadian economy since the turn of the century. Indeed, many analysts expect a complete collapse of the Canadian dollar and a severe decline in the Canadian GDP.

The BOC decision: Canadian Dollar Crumbles as Poloz Capitulates & Cuts are by far the most important announcement this week. It is the first time that Bank of Canada Governor, Mark Carney, has reduced their interest rates since he took office two years ago.

According to the Federal Reserve Bank of Chicago, The impact of the rate cut will be felt immediately. On the night of the decision, the Canadian dollar will drop as much as 10% against the US dollar.

In fact, the Bank of Canada rate cut will lead to a free fall in the Canadian currency. A 10% drop in the Canadian dollar in two days is almost equivalent to the fall of the British pound.

In his last press conference, Bank of Canada Governor Mark Carney said that he expects the Canadian dollar to fall to about CAD 80 by the end of the year. He also said that he is confident that the Canadian economy will strengthen and that inflation will come down.

The Bank of Canada is set to cut their benchmark interest rate to zero. The Bank of Canada decision: Canadian Dollar Crumbles as Poloz Capitulates & Cuts, will be released today, September 8th.

The Wall Street Journal is calling it the most important day in the Canadian economy since the turn of the century. Indeed, many analysts expect a complete collapse of the Canadian dollar and a severe decline in the Canadian GDP.

If you are a trader, you should buy Canadian dollars right now before the decision: Canadian Dollar Crumbles as Poloz Capitulates & Cuts, is released. Most people who trade currencies don’t want to wait for the announcement, they want to buy as much as possible right now.

The last time that the Bank of Canada announced their interest rate change was in 2020, when they raised their interest rate, it triggered a recession and the stock market went into a free fall. The markets have recovered and they are now in a recovery phase.

If you are a short term trader, you should start buying Canadian dollars now. The other advantage is that your profits will rise very quickly.

There is no reason to hold back. You should be selling at or around the announcement date and buy when the Canadian dollar rises above the Canadian dollar level at which you are holding your currency.

If you are a long term investor, you should be selling now, even if the announcement will not happen until next week. The BOC decision: Canadian Dollar Crumbles as Poloz Capitulates & Cuts will be released this week, but you should be selling soon because the Canadian dollar will fall sharply soon after the announcement.

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