Tag: Bank of Canada

Bank of Canada announcement causes brief volatility in the Canadian dollar

The Bank of Canada raised target rates this morning by 0.25 percent. The Canadian dollar (CAD) initially responded by falling over a half cent, but closed the day slightly higher. While rate hike announcements tend to inspire a bullish dollar, what is often overlooked is what the market was expecting prior to the announcement. In… Read more »

Bank of Canada announces earlier-than-expected interest rate hike

The Bank of Canada announced its second interest rate hike in two months, surprising analysts, and raising the target interest rate by one-quarter point to 1 percent.┬áThe last interest rate hike was announced in mid-July, and was the first increase the country had seen in over seven years. Many analysts had expected Bank of Canada… Read more »