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RBA leaves rates unchanged at 3.00

Fxstreet.com (Jakarta) - The Reserve Bank of Australia as expected left its cash rate target unchanged at a 49-year low of 3.00% after a policy meeting earlier Tuesday. Strong gains in global equity prices over recent weeks also likely contributed to the RBA board's decision to keep interest rates on hold. But economists have said further cuts are nevertheless likely over coming months. Data is soon expected to confirm that Australia's economy is in a technical recession, with unemployment widely

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ECB's Bini Smaghi Warns of Unintended Results from Excessively Low Rates

Frankfurt - European Central Bank member Lorenzo Bini Smaghi warned that excessively low rates could have unintended consequences and that he does not believe it is always a good idea to err on the side of excessive easing.Be careful to avoid overshooting and cutting rates to too low levels, Bini Smaghi said in a speech delivered Friday at the University of Ancona, in Italy. The central banker added that rates at zero percent could lead to substantial problems

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Canadian Dollar Holds Gains Despite Dovish BOC

The Canadian dollar came under short-term pressure after the Bank of Canada cut interest rates and pledged to keep them low for a year.Canada's central bank cut rates by a quarter-point to a record low of 0.25% and said it will keep rates at that level until the end of the second quarter of 2010. USD/CAD rose over a cent in initial reaction to the interest rate cut. However, the gains have been capped at 1.2506 and

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Indian Rupee / Canadian Dollar converter (BHUTAN, INDIA / CANADA)

Indian Rupee / Canadian Dollar converter (INR / CAD) will convert the currency of BHUTAN, INDIA in currency of CANADA with the actual exchange rate.

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former Cuban Peso -> CUC / Canadian Dollar converter (CUBA / CANADA)

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Australian Dollar Rallies After RBA Holds Rates

The Australian dollar is rallying against majors following the unexpected decision by the Reserve Bank of Australia to leave rates unchanged at its monetary policy meeting.The RBA held rates at 3.25% against expectations for a 25 basis point cut, citing stable domestic economic conditions.Jacqueline Douglas, strategist with TD Securities, said that since the announcement, the Aussie has robbed the USD of a lot of bullish momentum that was building up yesterday and initially overnight. The Aussie

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Canadian Dollar Strengthens After Carney Rules Out Early Quantitative Easing

The Canadian dollar wiped away some early weakness after Bank of Canada Governor Mark Carney said he was in no rush to use extraordinary measures to stimulate lending.The Canadian dollar lagged other major currencies early in the session on weakness in oil and worries about the automotive industry, but reversed after a speech from Carney.Speaking in Yellowknife, Carney downgraded growth forecasts, saying the Canadian economy could contract in the second half of 2009. But the key takeaway

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Canadian Dollar / Philippine Peso converter (CANADA / PHILIPPINES)

Canadian Dollar / Philippine Peso converter (CAD / PHP) will convert the currency of CANADA in currency of PHILIPPINES with the actual exchange rate.

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Canadian Dollar / UAE Dirham converter (CANADA / UNITED ARAB EMIRATES)

Canadian Dollar / UAE Dirham converter (CAD / AED) will convert the currency of CANADA in currency of UNITED ARAB EMIRATES with the actual exchange rate.

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Canadian Dollar / Rupiah converter (CANADA / INDONESIA)

Canadian Dollar / Rupiah converter (CAD / IDR) will convert the currency of CANADA in currency of INDONESIA with the actual exchange rate.

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