Canadian Dollar Tumbles as Bank of Canada Surprises with 25bp Cut to 0.25%

The Canadian dollar has pulled back sharply across the majors, sending USD/CAD toward 1.25, after the Bank of Canada unexpectedly cut rates by 25 basis points to an all-time low of 0.25 percent. The Bank also said that they would commit to leave rates at 0.25 percent through the end of June 2010, though this was "conditional on the inflation outlook