The Bank of Canada's latest published daily USD/CAD average was 1.4038 on October 27, up from 1.4025 the previous business day. Today's rate decision is scheduled, not assumed.
The dated official exchange-rate reading
The Bank of Canada's Valet exchange-rate service recorded 1.4038 Canadian dollars per US dollar on Tuesday, October 27, compared with 1.4025 on October 26 and 1.3993 on October 23. These figures are daily averages for the dates identified, expressed as Canadian dollars required to buy one US dollar. An increase in USD/CAD means the Canadian dollar was weaker against its US counterpart over that reference interval. The values are not continuously updated trading quotations and do not represent prices offered by an individual foreign-exchange dealer.
A major rate announcement is scheduled
The Bank of Canada is scheduled to announce its target for the overnight interest rate and release the quarterly Monetary Policy Report at 9:45 a.m. Eastern on October 28. Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers are scheduled to hold a press conference around 10:30 a.m. The Bank kept its target at 2.25% at the September 2 decision; that is the most recent confirmed policy setting cited in this briefing. The October 28 outcome must be taken from the new official decision after release.
Why the currency and rates are linked, but not identical
A policy decision can move Canadian bond yields and the exchange rate, but neither moves mechanically by a fixed amount. Currency traders also weigh US rates, commodity prices, trade developments and risk sentiment. Conversely, a Bank of Canada daily average is calculated from observations during an earlier date and should not be used as a live benchmark for the instant market reaction to an announcement. Borrowers need to distinguish the overnight policy target from lender-specific mortgage offers.
What to check next
After the announcement, the first verifiable items are the overnight target, the Bank's explanation, and the growth and inflation projections in the Monetary Policy Report. The following daily exchange-rate observation can then be compared with October 27 using the same units and calculation method. That would be an analysis of an observed change, not a prediction made before a decision. Source dates are supplied so readers can reproduce every number.
Sources & transparency
Bank of Canada — USD/CAD official daily averagesBank of Canada — October 28 interest-rate announcement advisoryBank of Canada — September 2 rate decisionOriginal CDN News coverage. Sources are linked for reference.
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