News Headline Summary

Bank of Canada Rate Announcement (Dec) M/M 1.00% vs. Exp. 1.00% (Prev. 1.00%)

- Keeps exact language on likely need over time for some modest withdrawal of stimulus.
- Canada's underlying economic momentum is weaker than expected but should pick up through 2013.
- Repeats exports to pick up gradually, held back by persistent CAD strength, over competitiveness challenges.

Reaction details (14:01)

- USD/CAD sees downside following this rate announcement and statement, with strength in CAD; moves from 0.9950 to 0.9936 in immediate reaction.

04 Dec 2012 - 14:00 - Forex Data - Source: Newswires

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