CANADA FX DEBT-C$ higher after Bank of Canada report

Thu Apr 23, 2009 10:45am EDT
 
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TORONTO, April 23 (Reuters) - The Canadian dollar moved higher on Thursday morning after the Bank of Canada laid out a broad framework for unconventional stimulus measures, but avoided immediate money expansion.

The bank provided an outline for measures including purchasing financial assets in the market, or quantitative easing, and rescuing private-sector credit markets, or credit easing, but it said it needed to be prudent and would not be taking any such steps immediately. [ID:nBAC000299]

The Canadian dollar was at C$1.2300 to the U.S. dollar, or 81.30 U.S. cents, up from C$1.2360 to the U.S. dollar, or 80.91 U.S. cents, before the release of the Monetary Policy Report.

On Wednesday, it finished at C$1.2400 to the U.S. dollar, or 80.65 U.S. cents. (Reporting by Jennifer Kwan; editing by Rob Wilson)