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The Bank of Canada held its overnight rate at the effective lower bound of 0.25% and kept its quantitative easing program at C$3 billion per week. The bank said global activity is picking up but growth is uneven, and that commodity prices and the Canadian dollar have risen further.
It will keep forward guidance on the policy rate until inflation is sustainably at target.
Continued easy policy keeps Canadian borrowing costs low and supports demand for commodities and the currency. For feed buyers, the stance has little direct price effect on grains but signals that financing costs for Canadian agriculture will stay low.
bankofcanada.caMedia RelationsJun 9, 2021Not 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.
