The value of the loonie is at a four-month low compared with the U.S. dollar, but experts say Canadian consumers shouldn't expect their wallets to take a major hit.
As of Wednesday afternoon, the Canadian dollar was trading at 72.46 U.S. cents, the weakest level since early November.
CIBC chief economist Avery Shenfeld says it's reflective of the U.S. Federal Reserve getting more aggressive on interest rate hikes while the Bank of Canada holds its key rate steady for the first time in a year. While import cost hikes could lead to higher prices for items like fresh fruits and vegetables, he says the effect on Canada's inflation rate should be minimal.
The Bank of Canada held its key interest rate at 4.5 per cent Wednesday based on its assessment of recent economic data. Shenfeld notes the central bank signalled it won't respond to a modest further weakening of the currency.Bank of Canada holds key rate for first time in a year, allowing itself to diverge from the Fed Canadian dollars are pictured in Vancouver, Sept. 22, 2011.THE CANADIAN PRESS/Jonathan Hayward
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Brace for a hit to the loonie if Bank of Canada holds rate todayThe Canadian dollar is at risk of extending its decline if the Bank of Canada signals interest rates have peaked. Find out more
اقرأ أكثر »
Brace for a hit to the loonie if Bank of Canada holds rate todayThe Canadian dollar is at risk of extending its decline if the Bank of Canada signals interest rates have peaked. Find out more
اقرأ أكثر »
Brace for a hit to the loonie if Bank of Canada holds rate todayThe Canadian dollar is at risk of extending its decline if the Bank of Canada signals interest rates have peaked. Find out more
اقرأ أكثر »
Loonie at Risk of Bigger Drop as Focus Shifts to Bank of Canada(Bloomberg) -- Canada’s dollar is at risk of extending its decline if the nation’s central bank confirms that policy rates there have basically topped out even as persistent inflation concerns put upward pressure on short-end yields in the US. Most Read from BloombergMeta Plans Thousands More Layoffs as Soon as This WeekPowell Sees Higher Peak for Interest Rates, Says Fed Prepared to Speed Up If NeededBiden Eyes Tax Hike on Income Over $400,000 to Fund MedicareUS Banks Are Finally Being Forced t
اقرأ أكثر »
Bank of Canada holds key rate steady, first major central bank to pause hikesThe central bank on Wednesday reiterated its pledge to pause, conditional on economic developments evolving in line with its outlook From alicjawithaj
اقرأ أكثر »
Bank of Canada holds key interest rate at 4.5 per centThe Bank of Canada maintained its policy rate at 4.5 per cent, following eight consecutive rate hikes since March. The pause was signalled by the central bank in January, in order to assess the full impacts its monetary policy is having on the Canadian economy.
اقرأ أكثر »