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Bank of Canada holds steady with their interest rate, while the loonie rises

On Wednesday the Bank of Canada opted to keep their benchmark interest rate at 1.25%. The rate has been holding steading since min-January, however the bank did hint at a potential raise in July.

"No surprise here," TD senior economist Brian DePratto said in a commentary. "With the economy set to outperform the bank's earlier expectations … and signs of life in all sectors bar housing, economic conditions favour another interest rate hike.”