Canadian Dollar plunged to 2011 lows

Source: Bloomberg
© scanpics/RS
The Canadian Dollar posted a noticeable decline after the nation's central back cut the key rate, saying that crude oil's crash could slow inflation and hit the economy. The benchmark rate was lowered to 0.75%, compared to the previous level of 1%, where it has stayed unchanged since 2010. Meanwhile, crude oil, Canada's main export item, has depreciated more than 50% since June due to the global supply glut.
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