Bank of Canada capitulates on bullish outlook

Even while the US dollar Index has weakened over the past week on the prospects of continued QE, the Canadian dollar has weakened twice as much, reflecting a shaky outlook for Canada’s over-indebted domestic economy and falling global demand for our exports. In historically typical fashion, the Bank of Canada that had been unduly bullish over the past 2 years, yesterday threw in the towel.

Canada’s central bank lowered forecasts and even raised the possibility it could cut its trend-setting interest rate, Havard Gould reportsHere is a direct video link.

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