# Bank of Canada assessing high oil price, would hike rates if needed, says Macklem | MarketScreener India

> The Bank of Canada held its key rate at 2.25% on March 18 but said it was ready to raise rates if higher energy prices became persistent inflation. Governor Macklem said it was too early to assess the war's effect, and markets priced in a hold at the next decision.

- Date: 2026-03-18 · published 2026-03-18T12:00:00.000Z
- Category: policy · region Canada · magnitude low
- Page: https://feedsoft.ai/events/20397-bank-of-canada-assessing-high-oil-price-would-hike-rates-if-needed-says-macklem
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A possible future BoC hike would support the loonie against the USD, while the current hold keeps rate differentials tilted toward USD strength and the CAD relatively weak for Canadian oilseed exporters.

## Read by commodity

- USDCAD: neutral

## Sources

- in.marketscreener.com: https://in.marketscreener.com/news/bank-of-canada-holds-rates-says-it-would-hike-them-to-prevent-persistent-inflation-ce7e5ed9db8ff02c

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.