The value of the loonie hit a four\u002Dmonth low compared with the U.S. dollar on Wednesday.
We apologize, but this video has failed to load.The Bank of Canada held its key interest rate at 4.5 per cent Wednesday based on its assessment of recent economic data. Shenfeld noted the central bank signalled it won’t respond to a modest further weakening of the currency.
Darcy Briggs, senior vice-president and portfolio manager at Franklin Templeton Canada, said he expected the loonie would continue to trade soft until the U.S. Federal Reserve reaches the end of its tightening cycle. But while the weakened loonie could make products denominated in U.S. dollars, more expensive, Melino said the effect on the Canadian inflation rate won’t be major.“If you’re planning to go to Florida for vacation, or Disneyland, you’re going to see it right away.”
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