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

> The Bank of Canada held its overnight rate target at 1.75 percent on July 10, 2019. It cut its 2019 global growth forecast to 3 percent, citing trade conflicts between the US and China that are weighing on manufacturing, investment and commodity prices. It said escalating trade conflict is the biggest downside risk to the outlook.

- Date: 2019-07-10 · published 2019-07-10T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/58334-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

Weaker global growth and lower commodity prices from trade tensions reduce demand expectations for feed grains and oilseeds. Holding rates steady keeps Canadian monetary policy tighter than the Fed's, which supports the loonie and can make Canadian exports less competitive.

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2019/07/fad-press-release-2019-07-10/

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