Investing.com - The Bank of Canada left its benchmark interest rate unchanged in July and said it was neutral about its next policy rate move, it announced on Wednesday.
The BoC said it was leaving its overnight cash rate unchanged at 1%, in line with expectations.
“The Bank is neutral with respect to the timing and direction of the next change to the policy rate, which will depend on how new information influences the outlook and assessment of risks,” said a statement accompanying the announcement.
BoC Governor Stephen Poloz was to comment on the decision at a press conference later in the day.
Following the release of the data, the Canadian dollar added to losses against its U.S. counterpart, with USD/CAD rising 0.25% to trade at 1.0785, compared to 1.0767 ahead of the decision.