# Bank of Canada increases overnight rate target to 3/4 per cent - Bank of Canada

> The Bank of Canada raised its overnight rate target to 0.75 percent, citing strong growth and absorption of excess capacity. The bank acknowledged softer inflation but judged it temporary and noted that elevated geopolitical uncertainty clouds trade and investment outlooks.

- Date: 2017-07-12 · published 2017-07-12T12:00:00.000Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/70223-bank-of-canada-increases-overnight-rate-target-to-3-4-per-cent-bank-of-canada
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Higher Canadian interest rates attract capital and support the loonie, which can make Canadian-origin grains and meals less competitive abroad.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/2017/07/fad-press-release-2017-07-12/

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