Bank of Canada hikes less than expected

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Source: Dukascopy Bank SA


At 14:00 GMT, the Bank of Canada announced its latest Overnight Rate hike. The central bank increased its base interest rate by 0.50% instead of the market expected 0.75%.

The event resulted in an immediate drop of the value of the Canadian Dollar, as the markets had priced in a 0.75% hike. The USD/CAD currency pair reacted to the news with a 70 base point or 0.52% surge.
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Thu, 27 Oct 2022 12:38:53 GMT

ECB hikes by 0.75%

The European Central Bank just hiked its base interest rate by 0.75% up from 1.25% to 2.00%. The markets expected the 0.75% hike and it was assumed to be priced in. However, on the announcement the Euro declined in value, which was attributed to the fact that some market participants expected a 1.00% rate increase.

Wed, 19 Oct 2022 14:42:19 GMT

UK inflation boosts GBP decline

The Pound's value was steadily declining on October 19 morning, as at 06:00 GMT the UK Consumer Price Inflation data was published. It was revealed that year-on-year basis inflation in September in the United Kingdom had reached 10.10%. The markets expected inflation to be at 10.00%. The GBP/USD reacted to the news with a 33 base point or 0.29%

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