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Home » Forex Glossary » Bank of Canada Rate Decision

Bank of Canada Rate Decision

The Bank of Canada's decision is to either raise, lower or keep the current interest rate based on its target inflation rate of 1 to 3%. The decision that the bank has a tremendous impact on its bond, mortgage and loan rates. When the BOC reveals interest rate changes, they issue a statement that gives a comprehensive overview of the nation's future monetary plans as well as its economy.