Experts say the next few months are going to be rough for the Canadian dollar as it appears set to continue its downward trend.
Canadian dollar coins, or loonies, are displayed on a map of North America in Montreal in a Thursday, Jan. 9, 2014, photo illustration. THE CANADIAN PRESS/Paul Chiasson
Meanwhile, the Bank of Canada delivered its second straight outsized interest rate cut this month, bringing its key rate down to 3.25 per cent. Schamotta predicts a further decline in the early months of next year and a gradual, modest improvement in the loonie through the remainder of 2025. While that’s been the trend for a number of years, Button said, “until the U.S. economy stumbles, I don’t see a real opportunity for the Canadian dollar to right itself.”
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