BOC leaves interest rates unchanged; CAD takes slight losses
- Last Updated on 09 February 2012
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News that the Bank of Canada (BOC) would leave national interest rates at 1% did not come as a shock to many traders as the move was widely expected. Still, the assumption that weak global data and the euro-zone debt crisis would prevent Canada from raising interest rates for at least another year led to some losses for the loonie in trading yesterday.
Today, the BOC Monetary Policy Report and press conference will likely shed some more light on the current state of the Canadian economy. Should the BOC's paint a negative economic outlook for the near future, the CAD may take some significant losses during the evening session.