Canadian governor refuses to lean on exchange rate

Mark Carney

The governor of the Bank of Canada, Mark Carney, on September 7 said higher commodity prices are "unambiguously good" for Canada's economy, and warned against leaning against the exchange rate.

In a speech at the Spruce Meadows Round Table in Calgary, he said the increased revenues from the resource sector spread throughout the economy via fiscal redistribution, personal wealth increases and interprovincial trade.

One consequence of higher commodity prices is the appreciation of the Canadian

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