The Bank of Canada (BoC) Governor Stephen Poloz rejected on Tuesday that he has been talking down the Canadian dollar. He added that the decline of the loonie depends on Canada's economy.
The BoC governor noted that oil prices are responsible for the performance of the economy.
The Canadian dollar fell 3.2% since interest rate cut by the Bank of Canada on January 21. The central bank lowered its interest rate to 0.75% from 1.00%.
Poloz pointed out that the further interest rate cut will depend on the economy's fundamentals.