Canadian dollar weakens to near 5-month low, hinting at Bank of Canada interest rate cuts.
The Canadian dollar weakened against the US dollar on Monday, nearing a five-month low, as domestic inflation data could signal the timing of Bank of Canada interest rate cuts. The loonie dropped to an intraday level of 1.3787, its lowest since November 14th. The Bank of Canada Governor, Tiff Macklem, has suggested a rate cut in June, if the current cooling trend in inflation is sustained.
April 15, 2024
10 Articles