Forex
Loonie Surges on BoC Rate Freeze
The Canadian dollar strengthened against the US dollar on Wednesday after the Bank of Canada announced its seventh consecutive interest rate freeze.
The loonie finished at US$0.7213 or US$1=C$1.3863, a gain of almost two-tenths of a cent from Tuesday's close.
The Bank of Canada stated that it will keep the overnight rate at 2.25 per cent, but noted that incoming tariffs and potential inflation could alter its course with interest rates in the future.