BOC Interest Rate Decision & Statement

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january, 2020

22jan3:00 pm3:00 pmBOC Interest Rate Decision & StatementIMPACT: USDCAD & CAD CROSSES3:00 pm - 3:00 pm UTC Event Type :High ImpactTill the Data is Released!

Event Details

What is this event?

BOC Governing Council members come to a consensus on where to set the rate. Short-term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.

Measures

The interest rate at which major financial institutions borrow and lend overnight funds between themselves.

Effect on Currency

‘Actual’ greater than ‘Forecast’ is good for the currency.

Frequency of event

Scheduled 8 times per year.

Source of Data

Bank of Canada (latest release)

Time

(Wednesday) 3:00 pm - 3:00 pm

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