Bank of Canada Talks Down its Dollar

Adrienne Minor

Canadian Currency

Bank of Canada Talks Down its Dollar (Reuters)

The Bank of Canada explicitly stated that it has concerns about disinflation — the slowing of the rate of inflation —  and the strength of the Canadian dollar suppressing exports. Canada is the United States’ largest trading partner. The Bank of Canada did not issue a cut to their main interest rate, which remains at 1.0%, but they did confirm that the rate could be adjusted up or down in response to future economic data.  It dropped to a four-year low of Canadian $1.1039 to the U.S. dollar immediately afterwards before recovering somewhat.

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