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BoC’s Dilemma: Economists Split on Rate Cut Move
The Bank of Canada (BoC) is likely to keep interest at 0.75% after January’s shocking move to lower the rate from 1%, where it had been since September 2010. Economists remain divided this time around, with some forecasting another cut on March 4. The central bank will make its interest rate announcement on Wednesday at 10am EDT. The Canadian dollar traded higher against its US peer ahead of the BoC decision, supported by market sentiment. The resource-linked currency is likely to shoot even higher if the bank presses pause on a rate cut. Since January’s decision, markets and economists have been playing the ... (full story)