Loonie takes off
Oct 4, 2012 / 2:49 pm
The Canadian dollar moved higher Thursday after a top Bank of Canada official suggested that rising interest rates are still a medium-term possibility.
The loonie rose 0.79 of a cent to 101.99 cents US, with a better than expected reading on jobless claims out of the U.S. adding to the climb. The currency has risen from the lowest levels it has tested in a month, reached on Wednesday.
The direction of interest rates returned to the forefront after BoC deputy governor Tiff Macklem reiterated a statement made earlier by the central bank, saying that some modest withdrawal of the existing monetary policy stimulus could be appropriate.
"The timing and degree of any such withdrawal will be weighed carefully against domestic and global economic developments," Macklem said in notes on the speech released in Ottawa.
His comments came as economists suggest that Canada continues to be buffeted by economic instability in Europe, and a slow economic recovery in the United States.
Read more Business News
|QHR Technologies Inc||0.56||-0.01|
|Anavex Life Sciences||0.475||-0.025|
|Copper Mountain Mining||1.73||-0.02|
Owning a business is a daily battle. Customers reduce everything to the most easily comparable factors – apples to apples – and dollars per unit. Business owners must constantly strive to...
I had a crazy thought a few years ago. I was in the lobby of a Church talking to Matt Blacklock. Matt is a friend and ultra-marathon runner who has tackled some of Canada’s toughest long distan...
I vowed when I started this column twenty-five years ago that I wasn’t going to write about politics and I have held the line until today but this item is really about questions. I looked back o...
- Loonie heads lower
- Loonie takes a short dive
- Music industry biggies donate $70M
- IRS investigated for tea party targeting
- Loonie weakens as commodities fall
- The buck is up - a little
- Cheap deadly cars made in Brazil
- Bangladesh to raise wages
- Open for business
- 'Gatsby' earns $51.1M, 'Iron Man' $72.5M
- Chrysler recalls nearly 470,000 SUVs
- Bell not interested in selling more Astral