The Bank of Canada's interest rate decision sets Canadian borrowing costs and is the main driver of the Canadian dollar.
Actual
4.25%
Forecast
4%
Previous
3.75%
Bank of Canada Rate Decision for December 7, 2022 came in at 4.25% versus 4% expected (previous 3.75%), above forecast, which was positive for the CAD.
What it meant for the CAD
The actual landed above the 4% forecast (0.25 above expectations). A reading above forecast is generally bullish for the CAD, and below forecast bearish. On this release the read was positive for the CAD.
New to this release? See what Bank of Canada Rate Decision measures, the next release and its full history.