# Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program - Bank of Canada

> The Bank of Canada held its overnight rate at 0.25% and kept its quantitative easing program running at at least C$4 billion per week. The bank said stronger demand is pushing up commodity prices, including oil, and that a broad decline in the US dollar has lifted the Canadian dollar.

- Date: 2020-12-09 · published 2020-12-09T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/49873-bank-of-canada-will-maintain-current-level-of-policy-rate-until-inflation
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Continued easy monetary policy and rising commodity demand support energy and commodity prices, while a weaker US dollar tends to lift dollar-denominated grain and oilseed prices.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-18 | [Most Latin American currencies up ahead of central bank policy decisions](https://feedsoft.ai/events/34396-most-latin-american-currencies-up-ahead-of-central-bank-policy-decisions.md) | +0.3% | +1.7% |
| DXY | 2022-12-13 | [Wall St cautiously optimistic as easing inflation lifts hopes of smaller rate hike](https://feedsoft.ai/events/38419-wall-st-cautiously-optimistic-as-easing-inflation-lifts-hopes-of-smaller-rate.md) | -0.2% | -2.1% |
| DXY | 2017-06-29 | [GBP/USD Rate Rises As Bank Of England Hint At Interest Rate Increase - Currency Live](https://feedsoft.ai/events/70750-gbp-usd-rate-rises-as-bank-of-england-hint-at-interest-rate-increase-currency.md) | +0.3% | -1.7% |
| DXY | 2020-03-19 | [The Fed is extending its currency exchange program to more central banks around the world](https://feedsoft.ai/events/54307-the-fed-is-extending-its-currency-exchange-program-to-more-central-banks-around.md) | +0.5% | -0.9% |
| DXY | 2017-09-07 | [ECB cites inflation-dampening euro rate as policy factor](https://feedsoft.ai/events/69161-ecb-cites-inflation-dampening-euro-rate-as-policy-factor.md) | +0.2% | +1.6% |
| WTI | 2021-07-14 | [Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program - Bank of Canada](https://feedsoft.ai/events/46274-bank-of-canada-maintains-policy-rate-and-forward-guidance-adjusts-quantitative.md) | -10.5% | -9.2% |
| 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% |

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2020/12/fad-press-release-2020-12-09/

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