FRANKFURT (MarketWatch) -- The Canadian dollar /quotes/zigman/4867882/sampled USDCAD +0.3579% tumbled versus its U.S. counterpart Wednesday as the Bank of Canada held its benchmark interest rate steady at 1% but indicated it would keep monetary stimulus in place for an unspecified period. The U.S. dollar /quotes/zigman/4867882/sampled USDCAD +0.3579% traded at 1.0319 Canadian dollars, up 0.5% on the day, and rose as high as C$1.0335 after the bank said that "with continued slack in the Canadian economy, the muted outlook for inflation, and the more constructive evolution of imbalances in the household sector, the considerable monetary stimulus currently in place will remain appropriate for a period of time, after which some modest withdrawal will likely be required, consistent with achieving the 2% inflation target."
/quotes/zigman/4867882/sampled
US : ICAP Currencies
Volume: 0.0000
March 6, 2013 11:20a
/quotes/zigman/4867882/sampled US : ICAP Currencies
Volume: 0.0000
March 6, 2013 11:20a
Source: http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/tW2LLFVDZ_Q/story.aspx
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