Foreign exchange update for March 4
by Johny Nusbaum, Foreign Currency Trader, Aloris Mercantile Corp.
Lackluster economy keeping inflation in check
TORONTO—The Canadian dollar has improved slightly after the Bank of Canada kept the overnight lending rate steady at 0.75 per cent.
The Bank also made mention that inflation levels are lower but that this is mostly due to lowered oil prices and that oil prices are currently close to what they were expecting.
They also spoke to the lower Canadian Dollar and recent interest rate cut helping to mitigate the effects of the fall in the price of oil and helping to boost non-energy exports.
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