Here's what the Bank of Canada's rate drop means for the loonie

From bnnbloomberg.ca

The Bank of Canada lowered its key interest rate for the second time this year to 4.5 per cent. Here’s what the decision means for the Canadian dollar. How has the decision affected the Canada-U.S. dollar exchange rate? The loonie didn’t react much to the Bank of Canada decision because the move was already priced in, said Rishi Sondhi, senior economist at TD Bank Group. The Canadian dollar did dip briefly from around 72.55 to 72.44 soon after the rate decision was released, with more dovish wording than some were expecting from the central bank, but it recovered after the press conference to around 72.52, ... (full story)