Bank of Canada — News Archive


Positive GDP Does Not Help Canadian Dollar to Gain

Canada’s economy maintained pace of its growth in September. The Canadian dollar attempted to rally on the positive data, but failed and now trades near the lowest level since October 2011 against its US counterpart.

More Weakness for the Canadian Dollar

The Canadian dollar continues to weaken. Evidence of economic slowing is weighing on the loonie, and there is speculation that the Bank of Canada will decide to cut interest rates at some point in the near future in order to stimulate the economy a bit.

Canadian Dollar Stronger After Yellen’s Speech

The Canadian dollar rallied against its US counterpart yesterday and remained strong today on prospects for prolonged monetary stimulus from the Federal Reserve. The currency also rose against the Japanese yen, but was flat against the euro.

Bank of Canada Makes Week Bad for Canadian Dollar

This week was bad for the Canadian dollar as the central bank hurt the currency after it dropped its hawkish stance and refrained from mentioning plans for an interest rate hike.

Bank of Canada Announcement Weighs on Loonie

Yesterday’s announcement from the Bank of Canada continues to influence the loonie in trading. The Canadian dollar is still struggling today after the change in the central bank’s stance, and the language used to forecast the likely economic situation through 2015.

Less Hawkish BoC Damages Canadian Dollar

The Canadian dollar demonstrated a sharp drop today as the Bank of Canada left interest rates unchanged and, what is more important, dropped hints of eventual interest hike from its statement.

Canadian Dollar Trades Mixed Ahead of Economic Releases

Loonie is trading mixed today ahead of economic releases expected in the next few days. With the US jobs data due tomorrow, and with a report from the Bank of Canada due on October 23, there is a lot of speculation about what will be revealed at those times.

Loonie Retreats with Slowing Consumer Inflation

The Canadian dollar dropped today as growth of consumer prices slowed, giving the central bank no incentive to tighten its monetary policy. The currency was also falling on speculations that the previous rally was excessive.

Canadian Dollar Gains as BoC Leaves Interest Rates Stable

The Canadian dollar climbed today after the nation’s central bank maintained its benchmark overnight rate stable and mentioned no plans to reduce borrowing costs that are already quite low.

Canadian Dollar Heads Higher as Syria Cools Down

Canadian dollar is getting a little boost against its major counterparts today, gaining ground as concerns about what’s happening in Syria ease a little. Additionally, Forex traders are waiting for information on policy from the Bank of Canada on Wednesday, as well as August employment data slated to be released on Friday.