Bank of Canada decision March 4, 2015
- Rates were lowered to 0.75% in January
- Says inflation risks are 'now more balanced'
- Oil impact may be more front-loaded than believed
- Easing conditions will mitigate negative effects of oil drop
- Jan rate cut caused financial conditions to ease materially
- Current degree of stimulus is appropriate
That's a neutral-sounding bias. USD/CAD dropping but there's a big US dollar bid coming through the market and that's skewing the trade. The loonie is ripping on the crosses.