Prime Minister David Cameron’s Conservative Party held the parliamentary seat of Newark, seeing off a challenge from the U.K. Independence Party and breaking a 25-year run of losing special elections while in office.
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 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.
Traders are betting the Canadian dollar fell too far, too fast in its worst start to a year in more than four decades, as rising commodities prices and a forecast budget surplus damp speculation for interest-rate cuts.