Here comes Canada ...

Here comes the Bank of Canada.

At 10:00 am ET on Wednesday, the Bank of Canada is set to announce its latest interest rate decision.

Expectations are for the BOC to keep its benchmark interest rate unchanged at 0.50%.

Overall, it’s a quiet day in markets with not much in the way of official data, but as we near the Federal Reserve’s next monetary policy announcement — currently set for next Thursday — all news out of central banks will take center stage.

And in the case of the BOC, this is the first time we’ll hear from BOC governor Stephen Poloz since we learned earlier this month that Canada’s economy contracted in the first half of this year.

Ahead of the decision, the Canadian dollar was modestly weaker against the US dollar at around $US1.3234.

We’ll be back with full reaction when the decision crosses.

NOW WATCH: Stunning drone video captures the beauty of Canada’s oil province

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.