As expected, the Bank of Canada maintained the benchmark rate at 0.25 percent. The loonie dropped against its major rivals after the decision.

The loonie was trading at 1.4737 against the euro, 90.57 against the yen, 0.9355 against the aussie and 1.2069 against the greenback around 10:04 am ET.

Euro vs CAD (FX:EURCAD)
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Euro vs CAD (FX:EURCAD)
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