# Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program - Bank of Canada

> The Bank of Canada held its overnight rate at 0.25% and kept its forward guidance unchanged. It adjusted its quantitative easing program to a target pace of C$2 billion per week. The bank raised its global GDP growth view to 7% for 2021, citing stronger U.S. outlook and rising oil prices.

- Date: 2021-07-14 · published 2021-07-14T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/46274-bank-of-canada-maintains-policy-rate-and-forward-guidance-adjusts-quantitative
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Stronger global growth forecasts and rising oil prices support energy-linked feed input costs, while the slower QE pace signals tighter Canadian monetary conditions over time.

## Read by commodity

- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-12-09 | [Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program - Bank of Canada](https://feedsoft.ai/events/49873-bank-of-canada-will-maintain-current-level-of-policy-rate-until-inflation.md) | +4.3% | +11.1% |
| WTI | 2022-12-20 | [Canadian dollar gains as investors weigh Bank of Japan’s policy shift - The Globe and Mail](https://feedsoft.ai/events/38457-canadian-dollar-gains-as-investors-weigh-bank-of-japan-s-policy-shift-the-globe.md) | +5.8% | +7.0% |
| WTI | 2026-03-23 | [Pound dips against dollar amid mounting expectations of Bank of England rate increase](https://feedsoft.ai/events/20435-pound-dips-against-dollar-amid-mounting-expectations-of-bank-of-england-rate.md) | +2.2% | -8.1% |
| WTI | 2022-08-11 | [Canadian dollar rises to two-month high on growing signs of easing U.S. inflation  - The Globe and Mail](https://feedsoft.ai/events/40280-canadian-dollar-rises-to-two-month-high-on-growing-signs-of-easing-u-s.md) | -4.1% | -10.5% |
| WTI | 2020-12-15 | [C$ climbs as market shrugs off Bank of Canada 'jawboning'](https://feedsoft.ai/events/49870-c-climbs-as-market-shrugs-off-bank-of-canada-jawboning.md) | +1.6% | +12.4% |

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2021/07/fad-press-release-2021-07-14/

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