Canadian Interest Rates Decision - No hint of rate cut ahead

Some analysts were expecting some signal from the Bank of Canada's Carney to cut rates sometime in the new year. These rumors were squashed during today's announcment.

Instead they said that:

European recession to be deeper than thought
2nd half of 2011 slightly stronger than anticipated
Inflation slightly firmer than expect; to ease going forward
Additional measures will be needed to contain European crisis

USDCAD sold off from 1.0200 to 1.0120 quickly as the New York cash equity indices opened and the CAD Ivey PMI was released.