# Canadian dollar climbs on expectations BoC will hold off on rate cuts - The Globe and Mail

> The Canadian dollar rose on Monday as expectations grew that the Bank of Canada would hold off on rate cuts after inflation hit 2.4% in May. Markets saw about a 50% chance of a cut by December, while US and euro zone easing was seen as possible by July.

- Date: 2019-06-24 · published 2019-06-24T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/58830-canadian-dollar-climbs-on-expectations-boc-will-hold-off-on-rate-cuts-the-globe
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A firmer loonie makes Canadian canola and barley exports more expensive in US dollars, which can support Canadian oilseed prices relative to competitors.

## Read by commodity

- USDCAD: bearish ▼
- CANMEAL: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-adds-to-last-weeks-rally-ahead-of-g20-meeting/

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