As expected, the Bank of Canada raised interest rate to 1 percent from 0.5 percent. The loonie eased from its recent highs against its major rivals after the decision.

The loonie was trading at 99.48 versus the yen, 1.3688 versus the euro, 1.2649 versus the greenback and 0.9372 versus the aussie around 10:04 am ET.

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