The Loonie in the Penalty Box

The Bank of Canada made no change to its key interest rate this morning, and that is exactly as the markets expected. What we didn't anticipate was the central bank's change in tone toward interest rates going forward, one which resulted in a sudden plunge in the Canadian dollar. What does this mean for the currency going forward, and how can we profit from it?

The maintenance of the 1% target rate came as no surprise, but the central bank cut growth expectations for 2013 down to 2% from 2.3%. Mark Carney, the outgoing head of the Bank of Canada (and incoming chief of the Bank of England), surprised markets when he deviated from his previously hawkish stance because of softening growth and tepid inflation....388 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.