Tiff Macklem, Governor of the Bank of Canada (BoC), is holding a press conference to discuss the policy outlook.
The Bank of Canada kept its policy rate at 0.25 percent, as expected, earlier in the day. In addition, the bank announced that it will reduce its weekly net purchases of Canadian government bonds from C$3 billion to C$2 billion.
Breaking: The Bank of Canada maintains its policy rate and decreases weekly asset purchases to C$2 billion.
Following the Bank of Canada’s policy statements, the USD/CAD has recovered to 1.2500.
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