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The Canadian dollar weakened against the U.S. dollar after the Bank of Canada cut its policy rate to support the economy ahead of expected U.S. trade tariffs. The loonie traded 0.2% lower at 1.4420 per U.S. dollar.
The rate cut widened the interest rate gap with the Federal Reserve.
Lower Canadian rates weaken the loonie, which can make Canadian canola and oat exports more competitive on world markets. The move reflects tariff risk feeding into Canadian monetary policy.
reuters.comFergal SmithJan 29, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
