# Bank of Canada maintains overnight rate target at 1 ¾ percent - Bank of Canada

> The Bank of Canada kept its overnight rate target at 1.75% and lowered its near-term growth outlook. It cited weaker exports, soft business investment and softer consumer data.

- Date: 2020-01-22 · published 2020-01-22T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/55302-bank-of-canada-maintains-overnight-rate-target-at-1-3-4-percent-bank-of-canada
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A weaker Canadian economy and possible future rate cuts can weigh on the loonie, indirectly affecting Canadian export commodity pricing.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2020/01/fad-press-release-2020-01-22/

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