USD/CAD: Canadian dollar slumps to 2018 lows after BOC decision

The USD/CAD dropped to a multi-year low of 1.2778 after the Bank of Canada delivered its final interest rate decision of the year. The relatively higher oil prices also helped. Bank of Canada interest rate decision In a statement, the Bank of Canada decided to leave interest rates unchanged at 0.25% today. This was in line with the overall expectation among that forex investors and analysts. It was also in line with the previous guidance of the central bank. In addition to rates, the bank left its quantitative easing policies intact. It will continue buying at least c$4 billion worth