BoC raising interest rates by 50 basis

Widely expected. USDCAD will probably recover relatively soon with Fomc expected to raise 50bps as well and oil prices sliding below 90 in the coming weeks barring some extreme measures by Putin.

 

Bank of New Zealand was the first to raise 50 basis points on Wednesday morning Auckland time.

 

Well its better than 0.25, but still farting in the wind.