The Monetary Policy Committee of the Bank of Canada decided after the end of its meeting held today, Wednesday, to cut interest rates by about 25 basis points, marking the second consecutive meeting, thus stabilizing the main interest rate at 4.50%, in line with market expectations which indicated that the Bank of Canada would reduce the interest rate during this meeting.

In a few minutes, investors are awaiting the release of the interest statement issued by the Monetary Policy Committee of the Bank of Canada, which provides a clearer view of the Bank of Canada's decisions and the economic situation within the country. This will have a strong impact on the trading of the Canadian dollar against other currencies.

It is worth noting that the Bank of Canada makes the interest rate decision related to overnight financing rates from lending and borrowing between major financial institutions within the country. Traders are anticipating changes in interest rates, given that short-term interest rates measure the value of the currency. The higher the interest rates rise above expectations, the more positive it is for the Canadian dollar; conversely, if they fall more than expected, it negatively affects the Canadian dollar.