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The U.S. Federal Reserve held rates steady in June, its first pause after 10 consecutive hikes, while the Bank of Canada had resumed hiking a week earlier. BMO economists said the divergence could strengthen the Canadian dollar and ease the inflation fight in Canada.
Markets were leaning toward another Bank of Canada hike in July.
Divergent rate paths favour a firmer loonie, which affects the cost of Canadian-denominated feed inputs relative to U.S.-priced grains. The impact on global feed prices is modest.
globalnews.caCraig LordJun 14, 2023Not 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.
