Loonie lower, central bank leaves rates unchanged, suggests hikes a long way off

TORONTO – The Canadian dollar was lower after the Bank of Canada said it’s leaving the key overnight interest rate unchanged at one per cent and again suggested it will stay that low for some time.

The currency slipped 0.4 of a cent to a fresh, eight-month low of 96.88 cents US as the bank said that “the considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required.”

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