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The Bank of Canada raised its overnight rate target by a quarter point to 1 per cent, its second hike of 2017. The bank cited stronger-than-expected data, robust consumer spending, and stronger exports, while noting the housing sector is cooling in some markets.
Higher Canadian rates support the loonie, which can raise the US-dollar cost of Canadian exports such as canola meal, a modest bearish factor for those prices in dollar terms.
bankofcanada.caMedia RelationsSep 6, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
