Thursday, April 19, 2007

Canada's Dollar Rises to Five-Month High on Faster-Than-Forecast Inflation

(Bloomberg) -- Canada's dollar strengthened to a more than five-month high after a government report showed consumer prices rose last month more than economists forecast.

The central bank kept the target rate for overnight lending between banks at 4.25 percent on March 6 for a sixth straight meeting, saying inflation will return to its 2 percent target at the beginning of 2008. The bank next meets April 24.


Read more at Bloomberg Currencies News

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