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Bank of Canada lowers rates by 0.25%- USD/CAD slips slightly
As expected by the markets the Bank of Canada has just lowered their OCR (Official Cash Rate) by 0.25%, to 4.25%. As noted here a little earlier, the USD/CAD was kind of treading water around 1.3550 ahead of this outcome. The reaction to the news has seen it edge a little lower as the markets digest the contents of the accompanying policy statement. The BOC boss has just warned that inflation pressures might rise in the coming months but he has also stated that the BOC could ease rates further if that inflationary pressure abates. The USD/CAD is currently trading at 1.3542
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