The Bank of Canada released its Business Outlook Survey for the third quarter, gathering perspectives from approximately 100 firms across the country. This release has influenced market expectations regarding potential interest rate decisions. Futures pricing now indicates a 32% probability of a 25 basis point rate increase, up from 18% the previous day, while the probability of keeping rates unchanged remains at 68%. Market participants will closely monitor upcoming comments from Bank of Canada officials, including Governor Tiff Macklem, as well as inflation and employment data ahead of the October announcement. Global oil price fluctuations will also be watched for their potential impact on Canadian inflation and future monetary policy decisions.
Source: Read the original article
