The Bank of Canada under Governor Mark Carney is expected to announce its interest rate decision on Tuesday December 6th at 2pm. The market consensus is for the BOC to keep interest rates on hold at 1%. The Canadian Dollar was one of the biggest beneficiaries of the recent joint central bank action. The Canadian Dollar gained approximately 200 pips against the U.S. Dollar after the six largest central banks in the world decide to lower the cost to borrow dollars by 50 basis points. The Loonie benefitted along with other commodity and risky assets from the November 30th action. Read more