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`Canadian Peso' Time Over as Loonie Set to Hold Its Value, Flaherty Says

From bloomberg.com

Canadian Finance Minister Jim Flaherty said he doesn’t expect a major weakening of the country’s currency, whose gains reflect the strength of fiscal policy and commodity prices. “We’re done with the Canadian peso,” Flaherty told reporters in Vancouver, where he was meeting with business officials as part of pre-budget consultations. He added there are “lots of good reasons for people to have confidence in this country.” The Bank of Canada this week said it expects a “modest” economic recovery for the nation’s economy, hampered by a strong currency that limits exports. The bank’s forecast assumes the Canadian dollar ... (full story)

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