Bank of Canada keeps tightening bias; Loonie Up ** *PIC*

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Bank of Canada keeps tightening bias; loonie up ( USDCAD DXY ) (by Deborah Levine)

NEW YORK (MarketWatch) -- The Canadian dollar recovered a little against its U.S. counterpart on Tuesday after the Bank of Canada kept its overnight rate steady at 1%, as many economists expected. Officials also kept a bias towards tightening policy - something analysts were divided about. The Bank of Canada's statement reiterated that "some modest withdrawal of the present considerable monetary policy stimulus may become appropriate." The U.S. dollar (usdcad) slipped to 1.0147 Canadian dollars, compared with 1.0155 Canadian dollars before the announcement and little changed on the day.

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