Sunday, April 20th12.2°C
21625

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

20880


Recent Trending




Today's Market
S&P TSX14500.39+53.87
S&P CDNX998.770.80
DJIA0.000.00
Nasdaq4095.516+9.291
S&P 5001864.85+2.54
CDN Dollar0.9073+0.0002
Gold1286.00-7.40
Oil104.16-0.14
Lumber329.70-2.70
Natural Gas4.738-0.003

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29+0.07
Cantex0.055+0.01
Anavex Life Sciences0.3750.00
Metalex Ventures0.08+0.005
Russel Metals30.66+0.11
Copper Mountain Mining2.35-0.07
Colorado Resources0.255-0.01
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.25+0.02

 



21118

FEATURED Property
1842234206-877 KLO Road
2 bedrooms 2 baths
$224,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...

_



21604

21368


Member of BC Press Council


21202