BoC can't cut rates, cannot keep rising either amid 'huge' economic downside risk: Strategist
Karl Schamotta, chief market strategist at Corpay, joins BNN Bloomberg for his view on the markets ahead of a busy week. With the BoC set to hold rates this week, Schamotta assesses how it could after the loonie. He expects the Fed to remain hawkish, which will contribute to USD strength, leading other currencies into bearish territory, however, he does not expect the loonie to be deeply affected by it. Furthermore, he does not see rate cuts for developed nations in 2023.