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This 12th July could witness the most exciting BOC meeting
of the year. This is the first meeting of the three (ECB, BOE and BOC)
central bankers that have turned hawkish at the ECB forum near the end of
last month. According to OIS data, markets have priced in a 93.1%
probability of a 25bps hike. CAD has strengthened 6% since its peak on
5th May, in spite of the fall in crude prices. Domestic data has been
turning positive in recent months with employment growth making strong...
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