Monitor BOC Gov Macklem's speech for pivotal clues on future interest rates, impacting CAD's value.
As the head of the central bank responsible for short-term interest rates, he has greater sway over the value of the national currency than anyone else. Traders pay close attention to his public appearances, as they often provide subtle hints about upcoming monetary policy. BOC Governor from June 2020 to June 2027, his speeches can induce volatility as traders try to interpret any clues regarding interest rates.
What it Measures
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Usual Effect
A more hawkish tone than anticipated tends to benefit the currency.
Source & Frequency
Bank of Canada (latest release) - https://www.bankofcanada.ca/
How Data is Derived
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Also Known As
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Acronym
Bank of Canada (BOC)