Loonie falls after BoC interest rate decision

The Canadian dollar fell against most of its counterparts today, after the Bank of Canada's rate decision and cutting its growth forecasts for this year.

The Bank of Canada kept interest rate unchanged at 1.75% today, but cut its growth forecast in the fourth quarter of 2019 to 0.3% from 1.3%.

Which raised bets that the central bank will cut interest rates in the near-term in order to stimulate growth.

The bank’s decision came as World Economic Forum in Davos, Switzerland, is continuing with discussions on many global issues, both politically and economically.

Markets are also following US Senate proceedings of President Donald Trump's trial may lead to his removal from office.

At 18:06 GMT, CAD/USD fell by 0.5% to 0.7612, after hitting a day high of 0.7676 and a low of 0.7598.