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The Canadian interest rate decision is due at tomorrow afternoon at 2 p.m. There is little expecting a change as inflation currently sits at a very comfortable 1.4%.

Compare this to other worldwide economies, for instance the UK – expected to be the first of the ‘big four’ economies (USA, UK, Europe and Japan) to raise rates, where inflation sits at a booming 3.3%. Foreign Exchange rates are irrevocably linked to interest rates and as interest rates rise so will the attraction of currencies to investors. For this reason alone it is likely that the CAD may struggle against the likes of GBP this year and to a lesser extent USD.

If you have a Canadian Dollar requirement, to either buy or sell fill in one of our enquiry forms and a specialist Currency Broker will be in touch.