NAB – The Morning Call · Hawkish BoC boosts Canadian dollar

Hawkish BoC boosts Canadian dollar

Thursday 22nd April 2021

The Canadian dollar has been boosted by the Bank of Canada markedly increasing their growth forecasts for this year, bringing forward the expected date of rate rises and introducing tapering from next week. NAB’s David de Garis says markets were expecting a tapering announcement, but were taken by surprise by the size of the growth revision, with the country in the midst of the third wave of the pandemic. On the podcast today we also look at New Zealand’s CPI read and what it can tell us about Australia’s inflation numbers next week, plus we look ahead to the ECB meeting tonight. And yesterday’s Australian retail numbers was largely a rebound in growth for WA and Victoria, but it seems cafes and restaurants may have led the charge. Is Australia heading for an avocado on toast led recovery?

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