Loonie falls for second day before rate decision

2018-12-05 13:23:22 GMT (Economies.com)
Loonie falls for second day before rate decision

The Canadian dollar fell on Wednesday against a basket of major rivals for another session ahead of Bank of Canada's policy decisions at its last meeting of 2018, after the bank already hiked rates for three times this year to 1.75%, with analysts expecting no change this time. 

 

As of 12:35 GMT, USD/CAD traded at 1.3280, with a session-high at 1.3294, and a low at 1.3252. 

 

Loonie marked a 0.5% loss yesterday away from two-week highs at 1.3159. 

 

Bank of Canada is expected to maintain interest rates at 1.75% and its policy unchanged. 

 

BoE believes higher rates are in line with inflation goals, paving the way for gradual policy tightening in accordance with data. 

 

Recently, economic indicators has flagged in Canada, hurting chances of a fourth rate hike this year, with investors now looking for clues for the 2019 policy cycle. 

 
 
 
  Symbol Last Change Chg.%
1.1301
-0.0096
0.8406%
1.2573
-0.0130
1.0253%
14.620
-0.001
0.003%
51.143
-1.102
2.109%
60.16
-1.26
2.05%
1239.940
-8.100
0.649%
 
 
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