Bank of Canada — News Archive

Bank of Canada Remains Hawkish, Loonie Goes Higher

The Canadian dollar jumped today against the euro after the Bank of Canada maintained its key interest rate and issued a hawkish statement. The loonie was down against the yen as the Japanese currency was surprisingly strong today, following yesterday’s losses. The Canadian currency trimmed its decline versus the US dollar, but remained somewhat below the opening level.

Loonie Struggles against other Majors

Canadian dollar is struggling a bit today, heading lower against other major currencies. Loonie is struggling a bit on uncertainty about what the Bank of Canada will decide, as well as being affected by slipping oil prices.

Canadian Dollar Snaps Three-Day Drop

The Canadian dollar jumped yesterday, snapping the three-day decline against its US peer, and maintained its gains today as risk appetite on the Forex markets resulted in gains for currencies tied to growth.

Loonie Gains on Bank of Canada Expectations

The Canadian dollar got a bit of a boost earlier today, gaining after remarks made by the governor of the Bank of Canada. Divergence between central banks is leading to gains for the loonie.

Bank of Canada Holds Rates, Loonie Slumps

The Canadian dollar sank today after the Bank of Canada refrained from raising its interest rates. The currency was weaker even as the statement after the monetary decision was rather hawkish and reiterated that an interest rate hike is possible in the future.

Canadian Dollar Stands Still Ahead of BoC Rate Decision

The Canadian dollar fell against its US counterpart yesterday, but managed to outperform the euro and the Japanese yen. Today, the Canadian currency remained near yesterday’s close, waiting for Bank of Canada’s rate decision.

CAD Rebounds vs. USD & JPY, Steady vs. EUR

The Canadian dollar strengthened today against the US dollar and the Japanese yen, reversing its yesterday’s decline. The Canadian currency remained steady versus the euro, keeping its yesterday’s losses, but not falling further.

Employment in Canada Worsens, Canadian Dollar Fluctuates

The poor employment data weakened the Canadian dollar today. Nevertheless, the loonie snapped its losses versus the US dollar and gained against the euro. The currency closed lower versus the Japanese yen.

Loonie Gets Boost from Carney’s Comments

The Canadian dollar gained today, rising for the fifth straight trading session against the US dollar, as Mark Carney, Bank of Canada’s Governor, suggested that an increase of interest rates may be needed in the near future. The Canadian economy differs from the struggling economies of some other developed nations, which strives to lower their borrowing costs.

EUR/CAD Drops to Two-Year Low

The Canadian dollar reached the highest level in two years against the euro today as the European Central Bank decreased its key interest rate. The Canadian currency stayed flat versus the US dollar.

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