Bank of Canada keeps overnight rate at 1.0%. They were upbeat on the economy but expressed caution as regards further normalization of the policy. Market was caught wrong-footed, appears to have been priced for a more explicit forward guidance in light of recent GDP and labour market reports. 1.2625 - 1.2925 range remains in play.
al_dcdemo's Blog
Not-so-hawkish hike sends pound lower
The Bank of England hiked its official bank rate for the first time in ten years with support from all but two MPC members. The hike was widely anticipated though and the market sold this fact in the absence of a really hawkish forward guidance. The pound looks headed lower.