Canada Interest Rate Decision – Actual: 0,50%; Forecast: 0.75%; Previous: 0.75%;
The change is lower than expected rate and it is bearish for the CAD.
The Bank of Canada’s Monetary Policy Report gives investors a detailed insight into the economic conditions that influenced the decision on where to set interest rates. Bank of Canada (BOC) governing council members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.