# Loonie jumps to highest level in 2 years as Bank of Canada raises benchmark interest rate again | CBC News

> The Canadian dollar jumped to above 82 US cents, its highest level in two years, after the Bank of Canada raised its benchmark rate to 1 per cent. The move was the first hike in seven years in July followed by a second in September.

- Date: 2017-09-06 · published 2017-09-06T12:00:00.000Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/69202-loonie-jumps-to-highest-level-in-2-years-as-bank-of-canada-raises-benchmark
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A stronger loonie following a rate hike raises the US-dollar price of Canadian exports such as canola meal, a bearish factor for those prices and a shift in Canadian export competitiveness.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- cbc.ca: https://www.cbc.ca/news/business/bank-of-canada-rate-decision-1.4276837

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