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USD/CAD – Loonie Mixed After Bank of Canada Keeps Rate on Hold

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Bank of Canada (BoC) as expected kept the benchmark interest rate on hold at 0.50 percent earlier today. The central bank upgraded the GDP growth forecast to 1.7 percent from 1.4 percent. Overall the statement and press conference by Governor Stephen Poloz was optimistic about Canadian growth picking up, but pointing out the factors that could derail it. In a global economy that is best described as fragile the Canadian dollar has newfound support from oil price stability and U.S. based

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