# Bank of Canada interest rate decision: what you need to know

> The Bank of Canada and the U.S. Federal Reserve both held rates at historic lows on Jan. 26. Fed Chair Powell said he backs a March liftoff and would not rule out a hike at every meeting. U.S. stocks ended lower and 10-year Treasury yields topped 1.8%.

- Date: 2022-01-26 · published 2022-01-26T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/43395-bank-of-canada-interest-rate-decision-what-you-need-to-know
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A Fed signaling multiple hikes in 2022 supports the U.S. dollar and raises financing costs for commodity holders, which can weigh on futures prices. Feed buyers outside the U.S. face higher dollar-priced import costs.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-01-18 | [C$ pares recent gains ahead of Bank of Canada rate decision](https://feedsoft.ai/events/73219-c-pares-recent-gains-ahead-of-bank-of-canada-rate-decision.md) | -0.3% | -0.9% |
| DXY | 2024-07-31 | [Market Awaits Fed Interest Rate Decision, Rupiah Potential to Weaken](https://feedsoft.ai/events/29613-market-awaits-fed-interest-rate-decision-rupiah-potential-to-weaken.md) | -0.5% | -1.9% |
| DXY | 2021-12-15 | [Latam FX drops on rising U.S. interest rate risk \| Central bank \| NDA News UK](https://feedsoft.ai/events/43877-latam-fx-drops-on-rising-u-s-interest-rate-risk-central-bank-nda-news-uk.md) | -0.1% | -1.8% |
| DXY | 2022-10-14 | [Bank of Canada says persistent U.S. dollar strength could force interest rates higher](https://feedsoft.ai/events/39351-bank-of-canada-says-persistent-u-s-dollar-strength-could-force-interest-rates.md) | +0.2% | -2.4% |
| DXY | 2019-09-12 | [European Central Bank cuts interest rates to record low - ABC News](https://feedsoft.ai/events/57284-european-central-bank-cuts-interest-rates-to-record-low-abc-news.md) | -0.3% | +0.3% |

## Sources

- financialpost.com: https://financialpost.com/economy/bank-of-canada-interest-rate-decision-0126-22/

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