Canada’s dollar fell to the lowest in three years as central-bank Governor Stephen Poloz warned of low inflation, spurring bets the Bank of Canada will keep interest rates on hold as the Federal Reserve trims bond-buying.
Bank of Canada Governor Stephen Poloz will probably keep the benchmark interest rate unchanged today as he weighs the risks posed by inflation that’s been below target for more than a year against concerns that lower borrowing costs could lead consumers to add to record debts.
Canada’s jobless rate unexpectedly fell to the lowest in almost five years in September as young people dropped out of the labor market, helping pull the participation rate to the lowest in more than a decade.
Canada’s dollar fell the most in seven weeks as politicians in the U.S., its largest trading partner, struggled to end a stalemate on agreements to fund the government and raise the nation’s debt limit.
Canada’s dollar strengthened against all 16 of its most-traded counterparts as global stocks rallied and Potash Corp. of Saskatchewan Inc. received a $39 billion purchase offer, boosting demand for growth assets.
The Canadian dollar lost the most since June after the Bank of Canada dropped language about the need for future interest-rate increases that has been in place for more than a year, citing greater slack in the economy.
Canada’s dollar touched a one-month high on the way to its second straight weekly gain as stronger- than-forecast economic data helped the domestic outlook and fading fears the U.S. will attack Syria boosted riskier assets.
The Canadian dollar fell against its so-called commodity-currency counterpart in Australia as the U.S. government began its first partial shutdown in 17 years, imperiling growth in Canada’s biggest trading partner.
The Canadian dollar fell to almost the lowest since 2011 as a slowdown in gross domestic product growth in April highlighted the nation’s diverging economic prospects from the U.S., its largest trading partner.