# Rate hike expectations, loonie rise as Poloz reiterates cuts have done their job | Ottawa Business Journal

> Bank of Canada Governor Stephen Poloz said on June 29, 2017 that the 2015 rate cuts had done their job and growth was running above potential. The Canadian dollar rose to a four-month high of 76.44 US cents, and markets increased bets on a rate hike at the next decision.

- Date: 2017-06-29 · published 2017-06-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/70738-rate-hike-expectations-loonie-rise-as-poloz-reiterates-cuts-have-done-their-job
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expected Canadian rate hikes lift the loonie, which makes Canadian exports pricier and can shift canola meal and other Canadian feed supply competitiveness. The effect on feed prices is indirect and modest.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- obj.ca: https://obj.ca/rate-hike-expectations-loonie-rise-as-poloz-reiterates-cuts-have-done-their-job/

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