The loonie is crashing after the Bank of Canada cuts rates

The Canadian dollar, also known as the “loonie,” has cratered to an 11-year low against the US dollar after the Bank of Canada cut its Overnight Rate 25 basis points to a record low 0.50%, as expected.

Post-annoucement selling has the loonie lower by 1.4% near 1.2915 per dollar.

More to come…

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