The Bank of Canada is slated to announce its interest rate decision at 10:00 am ET Wednesday. The bank is forecast to slash interest rate to 0.50 percent from the present 0.75 percent.
The loonie showed mixed trading against its major rivals ahead of the announcement. While the loonie advanced against the aussie and the euro, it held steady against the yen. Against the greenback, the loonie fell.
The loonie was worth 1.4021 against the euro, 0.9493 against the aussie, 96.83 against the yen and 1.2789 against the greenback as of 9:55 am ET.
The material has been provided by InstaForex Company – www.instaforex.com