At 10:00 am ET Wednesday, the Bank of Canada announces decision on interest rates. Economists forecast the bank to raise its benchmark rate by 25 basis points to 0.75 percent.

Ahead of the decision, the loonie traded mixed against its major rivals. While the loonie dropped against the yen and the aussie, it rose against the euro and the greenback.

The loonie was worth 1.2921 against the greenback, 87.66 against the yen, 1.4752 against the euro and 0.9898 against the aussie as of 9:55 am ET.

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