Highlights of the Bank of Canada interest rate decision:

* Repeats exact language on current stimulus being appropriate
* Key line remains: ‘Over time, as the normalization of these conditions unfolds, a gradual normalization of policy interest rates can also be expected’
* Housing sector slightly strongter thanexpected
* Looking through the data, GDP is largely consistent with forecast
* Output gap to begin to narrow in 2014
* Global economy continues to expand broadly as expected but its dynamic has moderated
* Recent data point to less US momentum than expected
* Europe shows signs of recovery, Japan promising
* In a number of emerging market economies, financial volatility has increased, adding uncertainty to growth prospects
* China continues to grow at a solid pace

USD/CAD crumbles 24 pips from 1.0512 to 1.0488

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