Bank of Canada expected to keep interest rates at record low as value of loonie almost on par with U.S….
The Canadian dollar rallied for a third straight week, touching a 14-month high and moving closer to parity with its U.S. counterpart as signs of economic recovery pushed commodities and stocks higher.
Canada’s currency gained as crude oil, the nation’s largest export, surged 10 percent and the Dow Jones Industrial Average surpassed 10,000 for the first time in a year. The Bank of Canada will keep interest rates at a record low level when it meets on Oct. 20, according to all 23 economists in a Bloomberg News survey.
Read the full article “Canadian Dollar Climbs Toward Parity as Stocks, Crude Oil Rally” at Bloomberg (Oct 17, 2009).