The Bank of Canada's interest rate decision sets Canadian borrowing costs and is the main driver of the Canadian dollar.
Actual
1.5%
Forecast
1.5%
Previous
1%
Bank of Canada Rate Decision for June 1, 2022 came in at 1.5% versus 1.5% expected (previous 1%), in line with forecast.
What it meant for the CAD
The actual landed in line with the 1.5% forecast. A reading above forecast is generally bullish for the CAD, and below forecast bearish.
New to this release? See what Bank of Canada Rate Decision measures, the next release and its full history.