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Canada Dollar Rises for a Third Week on Rising Rate Speculation

Canada Dollar Rises for a Third Week on Rising Rate Speculation Dec. 3 (Bloomberg) -- Canada's dollar rose for a third straight week as investors increased bets on how much the Bank of Canada will raise interest rates as government reports showed the economy grew at a faster-than-expected clip and unemployment was the lowest in 30 years. Investors are anticipating the central bank will follow through with its promise to keep lifting rates to contain inflation. The currency also benefited from demand by international purchasers of Canadian companies and rising commodity prices. Oil, natural gas and other commodities account for 35

Canada’s Dollar Falls on Speculation of Fewer Rate Increases

Canada's Dollar Falls on Speculation of Fewer Rate Increases Canada's dollar fell for a third day on speculation signs of slowing economic growth may curb the pace of interest-rate increases. The Canadian currency fell last week as reports showed business spending slowed to the lowest since July 2003 and the economy unexpectedly lost jobs in December. The Bank of Canada lifted its benchmark overnight rate three times since September, to 3.25 percent from 2.5 percent. Policy makers next meet on Jan. 24 and March 7. ``The market has priced out more aggressive moves from the Bank of Canada,'' Marc Levesque, chief

Canada’s Dollar Falls Most in Three Weeks Before Rates Meeting

Canada's Dollar Falls Most in Three Weeks Before Rates Meeting The Canadian dollar fell by the most in three weeks against the U.S. dollar on speculation the Bank of Canada will signal tomorrow that it may slow the pace of its interest-rate increases. The Canadian dollar set a new 14-year high against the U.S. dollar last week, prompting concern among some analysts that its appreciation may act as a drag on the Canadian economy by hurting exporters. The Bank of Canada is expected to raise benchmark rates a fifth straight time tomorrow, to 3.75 percent. ``The Bank of Canada might

Bank of Canada raises short-term interest rates; next move uncertain

Bank of Canada raises short-term interest rates; next move uncertain The Bank of Canada boosted its trend-setting interest rate Tuesday to 3.75 per cent and raised some questions as to just what its next move might be. The quarter-point hike in the central bank's overnight rate, its fifth consecutive increase, had been widely expected by financial markets. But uncertainty about when the bank might next raise interest rates took some shine off the high-flying Canadian dollar, which lost almost two-thirds of an American cent soon after the rate announcement. In raising the cost of short-term money - a move quickly

Canadas Dollar Poised for Biggest Gain in 35 Months on Rates

Canadas Dollar Poised for Biggest Gain in 35 Months on Rates Canadas dollar is set for the biggest monthly gain since May 2003 on prospects the Bank of Canada will continue increasing borrowing costs to prevent the economy from overheating. The currency set a 14-year high for a second day yesterday after the central bank raised its benchmark interest rate to 4 percent this week and said a modest increase may be required, as Canadas economy is operating at or above capacity. The bank, which has lifted the rate six times since September, next meets to set rates on May