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Central Bank
HIGH IMPACT

CA Overnight Rate

Monitor the CA Overnight Rate, a primary driver of CAD valuation and currency trends.

Overview

Short-term interest rates play a crucial role in determining currency values, as traders primarily analyze other economic indicators to forecast potential changes in these rates. Typically, the market has already factored in the rate decision, making it less impactful compared to the BOC Rate Statement, which emphasizes future projections.

Key Information

What it Measures

The interest rate at which major financial institutions engage in overnight borrowing and lending transactions.

Usual Effect

When the actual rate surpasses the forecast, it tends to positively influence the currency.

Source & Frequency

Bank of Canada (latest release) - https://www.bankofcanada.ca/ • This event occurs eight times a year.

How Data is Derived

BOC Governing Council members come to a consensus on where to set the rate

Also Known As

Interest Rates, Key Interest Rate

Acronym

Bank of Canada (BOC)

Historic Data