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Interest Rate

Interest rates in Canada are set by the Bank of Canada’s (BoC) Governing Council. The interest rate is also called as the overnight rate. The highest interest rate in Canada was reported in February of 1991 that was equal to 16% and the lowest of 0.25% in April of 2009. A higher than expected interest rate should be taken as positive/bullish for the CAD, while a lower than expected rate should be taken as negative/bearish for the CAD.