The Bank of Canada's decision to raise rates to a 22-year high of 4.75% was not widely expected.
This followed an equally surprising rate hike from Australia the day before, a one-two hawkish punch from policymakers that investors had probably not braced for.
The Reserve Bank of India is expected to leave its key interest rate unchanged at 6.50% and for the rest of 2023, according to a Reuters poll of economists.
The Australian dollar, which hit a one-month high on Wednesday following the RBA's rate hike, could get a nudge from Australian trade data on Thursday.
Here are three key developments that could provide more direction to markets on Thursday:- India interest rate decision- Japan GDP (Q1, revised)- Australia trade (April)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.
Persons:
Jamie McGeever
Organizations:
Nasdaq, Mega Tech, Reserve Bank of, U.S, Thomson, Reuters
Locations:
India, Canada, Australia, Reserve Bank of India, Japan