| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | United Kingdom | Producer Price Index - Input (MoM) | December | -0.2% | | -1.1% |
| 07:00 | United Kingdom | Producer Price Index - Output (YoY) | December | 16.2% | | 14.7% |
| 07:00 | United Kingdom | Producer Price Index - Output (MoM) | December | -0.1% | | -0.8% |
| 07:00 | United Kingdom | Producer Price Index - Input (YoY) | December | 18% | | 16.5% |
| 09:00 | Switzerland | Credit Suisse ZEW Survey (Expectations) | January | -42.8 | | -40 |
| 09:00 | Germany | IFO - Current Assessment | January | 94.4 | 95 | 94.1 |
| 09:00 | Germany | IFO - Expectations | January | 83.2 | 85 | 86.4 |
| 09:00 | Germany | IFO - Business Climate | January | 88.6 | 90.2 | 90.2 |
CAD fell against most of the other major currencies in the European session on Wednesday as investors awaited the announcement of the Bank of Canada’s interest rate decision later in the day.
The Canadian dollar rose against GBP and held steady against EUR but fell against the rest of its rivals.
The BoC will announce its decision on interest rates today at 15:00 GMT. Expectations are for the BoC to increase its benchmark rate by 25 basis points - a move which would lift it to 4.50%, its highest level since December 2007, and might mark the end of the current tightening cycle.
According to Reuters, markets see a roughly 70% probability that the Canadian central bank will approve a 25-basis-point rate hike at its January meeting and anticipate rates to peak at 4.50%.