The USDCAD moved lower after the Bank of Canada rate decision as the reaction was it was more of a hawkish cut.BOCs Macklem during his press conference said that they discussed both 25 and 50 basis point rate cuts before ultimately deciding on a 50 bps reduction. That the decision was driven by two key factors: the need to exit restrictive policy territory and economic data signaling a softer GDP growth outlook compared to October estimates. Lower immigration targets were cited as a factor behind anticipated slower growth, while the potential for tariffs on Canadian exports adds significant uncertainty, though the bank emphasized it cannot base policy on speculative risks. He acknowledged th
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