This translation has been automatically generated and has not been verified for accuracy.The Canadian dollar edged lower against its U.S. counterpart on Wednesday as oil prices fell and ahead of an interest rate decision by the Bank of Canada, with the loonie pulling back from its highest in nearly three months.
The Bank of Canada will hold interest rates at a record low of 0.25 per cent until at least the end of next year as the economy reels from the coronavirus crisis, according to nearly every economist polled by Reuters.The interest rate decision, which is due at 10 a.m., will be the first with Tiff Macklem as governor of the central bank. He begins his seven-year term today.
The Canadian dollar was trading 0.1 per cent lower at 1.3526 to the greenback, or 73.93 U.S. cents. The currency touched its strongest intraday level since March 9 at 1.3476.
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