Loonie Plunges to Lowest Since March as Retail Sales Disappoint
- Canadian dollar heads for worst week since May on BOC, data
- Central bank said Wednesday it considered monetary easing
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The Canadian dollar tumbled to the lowest since March after retail sales unexpectedly dropped in August while inflation accelerated last month at a slower-than-forecast pace.
The loonie is on pace for the biggest weekly decline since May as the data add to concern about Canada’s economy. The slump began Wednesday when Bank of Canada Governor Stephen Poloz said that officials “actively” discussed the possibility of adding more stimulus into the economy.’