Tuesday, April 28th18.9°C
25850
25263

The interest in rates

The Canadian dollar continued to lose ground after the Bank of Canada signalled that interest rate hikes are likely further off than previously thought.

The loonie declined 0.32 of a cent to 99.78 cents US on top of a drop of almost 2/3 of a cent Wednesday as the central bank kept its key rate at one per cent and lowered its economic estimates.

It has shaved three-tenths of a point off its projections for growth for both 2012 and 2013, to 1.9 per cent and 2.0 per cent respectively.

The change in the guidance likely means the Bank of Canada won't move to tighten borrowing costs until some time in 2014.

The loonie hasn't closed below parity with the U.S. currency since mid-November.

There was good news from the world's second-biggest economy as China's manufacturing crept higher in January to the fastest pace in two years. A preliminary version of HSBC's monthly purchasing managers' index rose for the fifth month in a row to 51.9 in January from 51.5 in December. Readings above 50 on the 100-point scale indicate an expansion.

The Canadian Press


Read more Business News

25968


Recent Trending




Today's Market
S&P TSX15327.21-16.87
S&P CDNX694.68+4.58
DJIA18076.95+38.98
Nasdaq5056.99-3.26
S&P 5002111.94+3.02
CDN Dollar0.8313+0.0042
Gold1205.30+2.00
Oil57.19+0.20
Lumber251.00-5.20
Natural Gas2.51+0.02

 
Okanagan Companies
Pacific Safety0.115+0.035
Knighthawk0.010.00
QHR Technologies Inc1.43+0.03
Cantex0.03-0.01
Anavex Life Sciences0.375-0.020
Metalex Ventures0.095+0.000
Russel Metals27.00-0.05
Copper Mountain Mining1.23-0.02
Colorado Resources0.095-0.005
ReliaBrand Inc0.004-0.001
Sunrise Resources Ltd0.04+0.00
Mission Ready Services0.19-0.01
Decisive Dividend Corporation1.80+0.10

 





FEATURED Property
2266579326 Downton Crt.
3 bedrooms 2 baths
$498,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Buy versus rent

Consider the top five reasons to buy versus rent: #5 Experience Freedom: Home ownership will free you from the ties that bind you to a landlord...no longer will you be dependent on someone else&rsq...


What's your score?

There was a time when we would sit down with nothing more than a sheet of paper and a sharp pencil to do the math. Totalling our expenses and subtracting our revenue, the amount left over was the answ...


Do you dare to dream?

Photo: Thinkstock.comI have never been able to understand why some people can only see as far ahead as the end of the current day. Instead of aiming for long term goals, they just wallow in their ever...

_



25482

25482


Member of BC Press Council


25770