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Bank of Canada leaves rates on hold at 5% -USD/CAD slips

The Bank of Canada has just announced the outcome of their policy meeting and it has delivered an unchanged outcome. The BOC has left the OCR at 5, as was widely expected and noted here earlier. The accompanying statement is mixed, with some dovish comments and some lightly hawkish. The BOC has said they will not hesitate to act again on inflation, if the rate starts to rise. However, in a more subtle twist, the BOC have removed one line in previous inflation focused commentary, which suggests this is not quite the hawkish hold some of the headlines in the statement would suggest. The USD/CAD is a bit lower though. It was trading above 1.3570 ahead of the decision. It is just now trading at 1.3556

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