The Canadian dollar stabilized against most of the major currencies during trading today, Wednesday, following the decision and statement of the Central Bank regarding monetary policy.
Today, the Central Bank of Canada decided to keep the interest rate at 0.25% unchanged, a move that met expectations in the markets.
The central bank also decided to fix the size of the asset purchase program, under which the bank buys 3 billion dollars in bonds and mortgage papers every week.
In its statement, the bank believes that the economy is doing well and is improving in line with expectations from the repercussions of the Corona pandemic, but the employment rate is still below pre-pandemic levels, and many in youth and women societies are still suffering from unemployment.
In light of this, the Central Bank renewed its commitment to stabilizing monetary policy and continuing to support the economy in the face of the Corona pandemic.
In terms of trading, the Canadian dollar settled against its American counterpart by 16:49 GMT at 0.8256, and recorded the highest price at 0.8295, while recording the lowest price at 0.8251.