Less than 24 hours remains before Bank of Canada governor Mark Carney decides whether or not Canada will become the first G8 nation to increase interest rates since the economies around the world were hit from the aftermath of the credit crunch.

There appears to be a general consensus amongst Canadian economist that a 0.25% increase is imminent. The futures market is currently pricing in an 83.96% probability of the move. The bigger unknown is the language that accompanies the decision.

Should Mr. Carney take a more hawkish tone, one which the market anticipates further hikes soon, expect yields to jump across the curve.

Should Mr. Carney take a more dovish tone, given the turmoil in Europe, yields won’t fluctuate much from current levels, as the 25 point hike is already priced into the market.

Tomorrow will be the most interesting trading day on the Money Market in over a year. I can’t wait. Yay!

So I haven’t posted in over a year. Tsk tsk tsk.

I guess I’m writing this as justification of my annual domain costs…. Or maybe just an excuse to play with the blackberry wordpress app. I love my crackberry….