Forex | Forex | BoC keeps Overnight Rate unchanged at 0.25%; Canadian Dollar ticks up (21/07/2009 13:18:00)

BoC keeps Overnight Rate unchanged at 0.25%; Canadian Dollar ticks up

FXstreet.com (Barcelona) - The Bank of Canada has decided to leave its overnight Rate unchanged at 0.25%, as widely expected. BoC's key interest rate has remained at 0.25% since April when it was trimmed from previous 0.50%.

The Bank of Canada has warned about the strength of the Canadian Dollar, which has strengthened continuously since May, as,the Bank affirms, is moderating the overall pace of growth.

USD/CAD, however, has weakened further; the Dollar decline from 1.1100 intra-day high has extended to levels below 1.100 as the pair hit 1.0965 moments after BoC's statement.
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