Bank of Canada Raises Rate, CAD Reacts Positively

The Canadian dollar rose against all major currencies after the central bank of the country decided to increase the target overnight rate to 3 / 4 percentage point at its meeting today.
The Bank of Canada announced in its statement that the rate is increased from 0.50 percent to 0.75 percent today. Although this decision is expected by most market analysts, the resulting positive impact of the Canadian dollar was quite strong - considerably higher than the dollar, euro and Japanese yen.
Despite the growth of the Canadian economy slowing down, the analysts believe that the Bank of Canada may continue to increase the tarieven for some time, as the growth of economic output is still one of the largest of the developed nations Among. Canada is now a leader by raising interest rates in the G7 countries.
USD / CAD was 1.0545 to 1.0491 from 17:15 GMT today. EUR / CAD down 1.3654 to 1.3533, while CAD / JPY showed a growth of 82.25 to 83.11 today.
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