Loonie Rises After Bank Of Canada Leaves Benchmark Rate Unchanged

By MarketWatch Pulse

The Canadian dollar strengthened Wednesday after policy makers from the Bank of Canada said they would leave its benchmark interest rate steady, as was widely expected. The central bank kept its main rate target at 0.5%, where it has stood since the central bank's July meeting. The loonie was recently up 0.3% on the day to 75.91 cents. The Bank of Canada previously lowered interest rates and lowered its forecasts for growth as falling commodity prices squeezed Canada's economy. Canada is the world's seventh-largest oil exporter, according to the CIA World Factbook.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below