The Bank of Canada is set to announce its interest rate at 9:00 am ET. Analysts expect the central bank to keep rates steady at an extremely low 1 percent for 20-months in a row. The rate is seen unchanged till the second quarter of 2013.
The Canadian dollar halted its recent rally against its major rivals ahead of the rate decision. As of 8:55 am ET, the loonie was trading at 1.3080 against the euro, 0.9955 against the greenback and 81.0 against the yen.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.