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<p>The consensus is for a +75bp rate hike from the Bank of Canada policy meeting coming up on Wednesday, 7 September 2022.</p><p>Announcement is due at 1400 GMT:</p><p>Via TD preview:</p><ul><li>The economic situation clearly calls for restrictive policy rates, and we see a clear path for the BoC to hike by 75 bps in September. We expect the pace of tightening to slow in October however, which may imply some moderation in the Bank's forward-looking language in the September communique.</li><li>We look for the BoC to deliver a 75bp hike and bring rates into restrictive territory. We see little incentive for smaller hikes CPI running well above target and the economy in excess demand. The BoC's messaging will be the larger source of uncertainty; we expect the Bank to emphasize that rates are now restrictive and signal that future hikes will be more modest in size. </li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.