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Industry: Email Alert RSS FeedCanadian Dollar And Business Outlook.
Resource News International, October, 2003
Winnipeg, MB, Oct 15, 2003 (Resource News International via COMTEX)
The Bank of Canada opted to leave the overnight target rate at 2.75% Tuesday, though the Bank said that the stronger Canadian dollar would have a negative impact on Canadian economic growth.
The news sent the Canadian dollar lower in early trading, sources said.
The Canadian dollar was trading at 75.30 US cents (C$1.3280) early in the session, weaker than Tuesday's North American closing level of 75.59 US cents (C$1.3229).
The Bank noted that core inflation remains below its target 2% inflation rate. Additionally, the Bank said there is growing evidence the Canadian economy is gaining strength, particularly with regards to domestic demand. The recovery of the US and...
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