CAD traded mixed against other major currencies in the European session on Wednesday as investors awaited the announcement of the Bank of Canada’s (BoC) rate decision and updated economic projection later in the day.
The Canadian currency advanced versus GBP, JPY, and USD but declined versus AUD, CHF, and EUR.
With signs of easing inflationary pressure and a slowly-softening labor market in Canada, the BoC is widely expected to remain on pause with its benchmark rate at 4.50% when it decides on its policy today.