Friday, February 27th3.2°C
25154
25158

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

25320


Recent Trending




Today's Market
S&P TSX15234.34-6.82
S&P CDNX706.73+5.80
DJIA18132.70-81.72
Nasdaq4963.528-24.362
S&P 5002104.50-6.24
CDN Dollar0.7996+0.0004
Gold1203.00+6.10
Oil52.14+1.53
Lumber297.20+1.20
Natural Gas2.895-0.007

 
Okanagan Companies
Pacific Safety0.12+0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.03
Cantex0.035-0.005
Anavex Life Sciences0.190.00
Metalex Ventures0.035-0.005
Russel Metals25.38+0.08
Copper Mountain Mining1.30+0.04
Colorado Resources0.15+0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.05+0.015
Mission Ready Services0.235+0.025

 



24153

FEATURED Property
2039808459 Farris Road
5 bedrooms 5 baths
$2,249,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


25202