Here comes the Bank of Canada ...

The Bank of Canada is expected to hold its key interest unchanged at 0.50% at Wednesday's policy meeting.

The decision comes after a December jobs report that showed the country's unemployment rate dipped to 6.8%, matching its lowest since January 2015. But while people are finding jobs, the quality of those jobs is a bit concerning as they have tended to be of the part-time variety and pay lower wages.

However, the news hasn't all been bad for the Canadian economy. The economy grew at a 3.5% clip in the third quarter as the energy market snapped back and households opened up their wallets. That represented a solid bounce back from the contraction of 1.3% that was seen in the second quarter.

Ahead of the decision, which will cross the wires at 10 a.m. ET, the Canadian dollar is trading little changed at 1.3285 per dollar.

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