# Bank of Canada holds rates, strikes hawkish tone as recession fears fade

> The Bank of Canada held its overnight rate at 4.50% as expected but adopted a hawkish tone that downplayed recession worries. The Canadian dollar traded 0.1% higher at 1.3447 per U.S. dollar after the decision.

- Date: 2023-04-12 · published 2023-04-12T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/36638-bank-of-canada-holds-rates-strikes-hawkish-tone-as-recession-fears-fade
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A hawkish hold supports the Canadian dollar and keeps borrowing costs high, which can slow Canadian crushing and export activity at the margin. The direct effect on feed commodity prices is small.

## Read by commodity

- USDCAD: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/bank-canada-keeps-rates-hold-sees-stronger-2023-growth-2023-04-12/

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