# Canadian dollar bolts higher as Bank of Canada signals rate hike - The Globe and Mail

> The Bank of Canada held its benchmark rate at 1.25 percent but removed its previous caution about future hikes and said higher rates would be warranted, prompting the Canadian dollar to jump from below 77 U.S. cents. Economists began to expect a rate increase in the coming months.

- Date: 2018-05-30 · published 2018-05-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/65243-canadian-dollar-bolts-higher-as-bank-of-canada-signals-rate-hike-the-globe-and
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Tighter Canadian monetary policy supports the loonie, which raises the cost of Canadian-origin commodities for U.S. buyers and can shift Canadian canola meal and barley export pricing.

## Read by commodity

- USDCAD: bearish ▼
- CANMEAL: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/briefing/article-canadian-dollar-bolts-higher-as-bank-of-canada-signals-rate-hike/

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