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Loonie Up Sharply for Second Day on Rising Doubts about Rate Cut

Posted February 25, 2015

Under Economic Issues, International Trade Issues

(Malcolm Morrison – Canadian Press)

The Canadian dollar continued to advance Wednesday amid increasing doubt that the Bank of Canada is set to deliver another interest rate cut.

The loonie gained 0.39 of a U.S. cent to 80.42 cents.

The loonie had advanced half of a U.S. cent on Tuesday following remarks from Bank of Canada governor Stephen Poloz that were interpreted as lessening chances of the bank following up a quarter point rate cut in January with another decrease as soon as next week. Click here to read more.

Related: Recent Rate Cut Buys Time to Assess Impact of Drop in Oil Prices (RTT)