Europe could look to Canada as a model as the continent tries to avoid a “decade of stagnation,” Bank of Canada Governor Mark Carney said in his last public speech before taking over the Bank of England.
Canada’s dollar fell to a more than two-month low against its U.S. counterpart amid speculation growth in the world’s largest economy would spur the Federal Reserve to reduce stimulus, known as quantitative easing.
The Canadian dollar posted its biggest loss in a year against its U.S. peer as the nation’s annual inflation rate fell in April to its slowest in more than three years, bolstering the case for relaxing monetary policy.
The Canadian dollar declined to a two-month low versus its U.S. counterpart after the rate of inflation slowed in April to the least in more than three years, bolstering the case for relaxing monetary policy.
Canada’s annual inflation rate fell in April to its slowest in more than three years, taking it below the central bank’s target band and adding to evidence of growing slack in the world’s 11th largest economy.
The Canadian dollar declined for a fifth time in six days versus its U.S. peer as a regional Federal Reserve president said the central bank may begin slowing monthly bond-buying as the labor market strengthens.