Strong Canadian dollar “threat to growth”
Mark Carney, governor of the Bank of Canada, told the country's House of Commons that the current high exchange rate against the US dollar was depressing prices and economic activity.
"Heightened volatility and persistent strength in the Canadian dollar are working to slow growth and subdue inflationary pressure. The current strength in the dollar is expected, over time, to more than fully offset the favourable developments since July," he warned. He acknowledged that the exchange rate reflects
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