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FOREX CENTRAL BANK WATCH: Interest Rate Expectations are Steady Ahead of Canada GDP Data

FOREX CENTRAL BANK WATCH: Interest Rate Expectations are Steady Ahead of Canada GDP Data

2011-01-31 02:32:00
DailyFX Research,
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Central Bank

Current

Interest Rate

Next Policy

Decision Expectation

Market Conviction*

1-yr Exp**

Federal Reserve

0.00% - 0.25%

No change on 03/15

High

+19bps

European Central Bank

1.00%

No change on 02/03

High

+79bps

Bank of England

0.50%

No change on 02/10

High

+58bps

Swiss National Bank

0.25%

No change on 03/17

High

+29bps

Reserve Bank of Australia

4.75%

No change on 02/01

High

+18bps

Bank of Canada

1.00%

No change on 03/01

High

+68bps

Reserve Bank of

New Zealand

3.00%

No change on 03/09

High

+66bps

Bank of Japan

0.10%

No change on 02/15

High

+3bps

*Market Conviction is based on Overnight Index Swaps. A higher level of conviction implies a greater likelihood that the next policy decision expectation is accurate.

**Represents the number of basis points interest rates are expected to rise or fall over the next year.

Daily Update: Interest rate expectations are steady ahead of this week’s economic data. Today’s calendar features Canada Gross Domestic Production figures for November, as well as Personal Income and Spending data from the United States. Tomorrow, the RBA will release its latest policy decision.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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