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Money markets and economists increasingly expect at least one more Bank of Canada rate hike this year after first-quarter GDP grew 3.1% annualized versus 2.5% expected. The Bank of Canada has raised its key rate to 4.5% and had paused since January.
Some economists see a hike as soon as the June 7 meeting.
Expectations of tighter Canadian monetary policy tend to strengthen the loonie against the US dollar. The effect on feed commodity prices is limited, though a firmer currency can marginally weigh on Canadian export competitiveness.
theglobeandmail.comDarcy KeithMay 31, 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.
