Loonie Falls as Central Banks Predicts Slower Recovery, Keeps Rate Steady

Canada’s dollar declined after the Bank of Canada left its benchmark overnight rate unchanged at 1 percent after three previous increases amid slowing economic growth and as other central banks, including the U.S. Federal Reserve, consider further action to stimulate their economies.

All 18 economists in a Bloomberg survey predicted the central bank would leave its benchmark rate at 1 percent.

To contact the reporter on this story: Paul Cox in New York at pcox16@bloomberg.net

To contact the editor responsible for this story: Paul Cox at pcox16@bloomberg.net

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