Bank of Canada Governor Stephen Poloz may have reason to start worrying about the strengthening Canadian dollar when he sets interest rates this week.
It’s uncommon for Bank of Canada policy makers to comment about currency movements in rate statements, but occasionally they do. The last time they expressed worries was at a decision in October 2017, though the gains then had been much sharper. Investors too are still placing large odds on one cut over the next 12 months, market data suggest. But that’s a far cry from the almost full percentage point cut being priced in for the Fed.
For someone labeled a currency dove almost from the instant he became Bank of Canada governor, there is an irony to his current predicament.
'high-flying' LOL
High-flying? You folks are high.
Point re BofC isn't wrong necessarily but ...high flying loonie? Really? It's 1.32
Three quarters of near zero GDP growth and they aren’t going to drop the rate The US Fed is dropping theirs and their last GDP was 3.2% while ours was 0.4% is the Bank of Canada nuts?
Only in Canada would we call a 76 cent dollar 'high flying' 😆
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