EMISSIONS: EUA Auction Calendar Week Ahead (Calendar Week 49)
Nov-28 13:48
{A total of 16.8mn EUAs will be auctioned next week across four auction sessions. The latest EU ETS auction cleared at €82.6/ton CO2e, up 2.65% w/w, reaching the highest level since Oct 2023.
- A total of 639mn EUAs has been auctioned so far this year, accounting for 94% of the 2025 total volume.
- The mean and median market forecasts for EUAs spot price in 2025 Q4 are at €77.51/t and €78.13/t, below the latest auction price, according to Bloomberg.
- The latest auction was at a €0.01/ton CO2e discount to the futures contract, compared with the €0/ton CO2e in the previous round.
- EUA DEC 25 up 0.64% at 82.74 EUR/t CO2e
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BOC: Instant Answers For Bank of Canada Interest-Rate Decision
Oct-29 13:45
Following are the Instant Answers for the Bank of Canada interest-rate decision:
- Target for overnight rate: Reduced by 25 basis points to 2.25%, as expected
- Does the Bank signal it is prepared to lower rates in the future? Yes
- Does the Bank say lower interest rates will likely be needed in the future? No
- Does the Bank signal it intends to leave rates on hold? Yes
- Does the Bank mention core or underlying inflation has been elevated? Yes
- Does the Bank say it may be less forward looking with policy? No
BANK OF CANADA CUTS KEY RATE 25BPS TO 2.25%, SIGNALS PAUSE
Oct-29 13:45
- BANK OF CANADA CUTS KEY RATE 25BPS TO 2.25%, SIGNALS PAUSE
- BOC SAYS CURRENT RATE CAN KEEP CPI NEAR 2% IF FORECAST HOLDS
- BANK OF CANADA SAYS PREPARED TO RESPOND IF ITS OUTLOOK CHANGES
- BOC SEES 2026 GROWTH OF 1.1%, SAYS SLACK TAKEN TO BE UP SLOWLY
- BOC SAYS HAS LIMITED ROLE HELPING CANADA ADJUST TO TRADE SHOCK
BOC: BOC Signals Pause After Cutting Policy Rate Again By 25 BPs
Oct-29 13:45
- BOC goes for a second straight policy rate cut of 25 bps, bringing it to 2.25%, as expected by most economists.
- "If inflation and economic activity evolve broadly in line with the October projection, Governing Council sees the current policy rate at about the right level to keep inflation close to 2% while helping the economy through this period of structural adjustment."
- Bank also prepared to respond if outlook changes.
- GDP growth seen about 0.75% annualized in the second half of the year following "severe" US tariff impact on autos, steel, aluminum and lumber.
- Bank projects GDP to grow 1.2% in 2025, 1.1% in 2026 and 1.6% in 2027, with excess economic capacity expected to persist and be taken up gradually.
- Inflation pressures anticipated to ease in months ahead with CPI inflation holding near 2%. BOC's preferred measures of core inflation "sticky" around 3%.
- Bank says monetary policy's usefulness limited in Canada's adjustment to trade shock; cannot restore economy to pre-tariff levels of GDP.
