The CAD/JPY rate tracks the price of the Canadian dollar, the base currency, against the Japanese yen, the counter currency. Monetary policy announcements of both the Bank of Canada and the Bank of Japan will have an influence on this currency pair as well as the respective country's interest rates.
Bank of England (BoE) cut rates for the first time in August 2024, with further easing expected in the coming months. But how low are rates likely to go?