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Loonie Halts Rally Ahead Of Bank Of Canada Rate Decision

4/17/2012 8:56 AM ET

The Bank of Canada is set to announce its interest rate at 9:00 am ET. Analysts expect the central bank to keep rates steady at an extremely low 1 percent for 20-months in a row. The rate is seen unchanged till the second quarter of 2013.

The Canadian dollar halted its recent rally against its major rivals ahead of the rate decision. As of 8:55 am ET, the loonie was trading at 1.3080 against the euro, 0.9955 against the greenback and 81.0 against the yen.

by RTT Staff Writer

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