Following the Bank of Canada's (BOC) decision to hike the policy rate by 50 basis points to 1% in April, Governor Tiff Macklem will deliver his remarks on the policy outlook and respond to questions from the press. Macklem's presser will start at 1500 GMT.

"The Canadian economy moving into excess demand, labor market conditions are tight; the economy is starting to operate beyond its productive capacity," the BOC said. 

In its quarterly Monetary Policy Report, the bank also revised the inflation forecast for 2022 to 5.3% from 4.2% previously. 

Breaking: BoC hikes interest rates by 50 bps to 1.00% as expected, to start QT from 25 April.