BREAKING: Bank of Canada cuts rates by 50 basis points

2:12 PM 27 March 2020

Bank of Canada decided to deliver a 50 basis points rate cut in an emergency move. Main rate was lowered from 0.75% to 0.25%. The move is aimed at supporting Canadian economy at times of the coronavirus outbreak. Before the cut, Bank of Canada held the highest interest rate among developed countries. USDCAD extended gain on the news and tested 23.6% Fibo level of the downward move started on March 19.

USDCAD tested 23.6% retracement after the Bank of Canada delivered a 50 basis point rate cut. Important resistance zone can be found near the 1.4180 handle. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits