# Bank of Canada increases overnight rate target to 1 per cent - Bank of Canada

> 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.

- Date: 2017-09-06 · published 2017-09-06T12:00:00.000Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/69200-bank-of-canada-increases-overnight-rate-target-to-1-per-cent-bank-of-canada
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

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.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2017/09/fad-press-release-2017-09-06/

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