Intraday Market Thoughts

Loonie Caught Between BoC & Ottawa

by Ashraf Laidi
Oct 23, 2012 17:41

Just as the Canadian dollar was suffering losses from Canadas rejection of Malaysian-owned Petronas takeover bid of Progress Energy Resources, the currency gets a sudden lift from todays Bank of Canadas policy statement indicating: some modest withdrawal of monetary policy stimulus will likely be required. But knee-jerk reactions to central bank statements are typical ... and the reaction to the above statement was premature. Read more:


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