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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