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The loonie is at a nearly 2-year low. What does that mean for inflation?
As Canada’s loonie falters against the surging U.S. dollar, experts say the effect could worsen inflation on some goods imported from south of the border. The Canadian dollar is sitting at 75 cents compared to the U.S.-dollar benchmark as of Tuesday, a nearly two-year low for the loonie. Economists say there could be a few reasons for the Canadian dollar’s weakness. RBC assistant chief economist Nathan Janzen tells Global News that Canadian oil exports have historically been a “big driver” for the dollar’s value and lower prices at the pumps have not helped loonie. But he and other economists who spoke to ... (full story)
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- Posted: Sep 21, 2022 11:43am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 1,097
