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Tomorrow is the Bank of Canada’s last meeting for the year. And we don’t really expect anything groundbreaking to come from it.

There are some policy tweaks that we can expect which could push the CAD a bit. Given that we are about to go into the holiday season, that could set the tone for the currency for a while.

Many analysts believe that the BOC has reached the bottom for this cycle’s cuts. Although it’s still possible to have an Australian-style “half of a rate cut”, the consensus is solidifying around the idea that the BOC won’t entertain negative rates.

Support for the economy will, therefore, be likely. This will come from tweaks made to the bond curve as the bank already announced.

The Changes this Time Around

So, with a unanimous consensus that the BOC will keep the interest rate where it is, what could change?

At the last meeting, the bank said they would continue the “extraordinary measures as the economy continues to recover....

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