The Bank of Canada will announce its interest rate decision at 10 am ET Wednesday. The BoC is widely expected to raise interest rate to 1 percent from 0.5 percent.

The loonie traded mixed against its major rivals before the decision. While it fell against the greenback and yen, it held steady against the euro. Versus the aussie, it rose.

The loonie was worth 99.38 versus the yen, 1.3691 versus the euro, 1.2654 versus the greenback and 0.9377 versus the aussie at 9:55 am ET.

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