0812 GMT - The Canadian dollar could fall further as the Bank of Canada is likely to refrain from any signals about nearing the end of its interest rate cutting cycle in a decision later, ING's Francesco Pesole says in a note. The BOC is widely expected to cut rates by 25 basis points, and hence the focus is on guidance about future decisions, he says. Given the risk of the Trump administration imposing tariffs on Canada, the BOC will likely "err on the dovish side" by favoring further rate cuts. "This means there are mostly downside risks for CAD today." ING sees the risk of USD/CAD rising above 1.45. It last trades up 0.1% at 1.4410. The BOC's decision is at 1445 GMT. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
January 29, 2025 03:12 ET (08:12 GMT)
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