The Bank of Canada left the interest rate unchanged as expected and also remains calm on inflation: with risks to inflation “roughly balanced”, there is no need for quick action. The BOC shocked markets with a cut on January 21st.
The Canadian dollar likes it and USD/CAD is down around 70 pips to 1.2450 and falling. Update: the low so far is 1.2440 and we have a bounce from there.
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