March 1: Bank of Canada Keeps Target for the Overnight Rate at 2 1/2 per cent

I think this is a first for the site: Two consecutive announcements about Canada.

As expected Canadian interest rates were held steady yesterday. This, along with rising U.S. interest rates, is acting to increase the "interest rate gap" between the two countries. This interest rate gap will put upward pressure on the greenback and downward pressure on the Canadian Dollar. This should cause the Canadian Dollar to decline somewhat, or at the very least, act to slow its rise.