Canadian Dollar Falls Most Since May as Rate Outlook Eases
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The Canadian dollar weakened against its U.S. counterpart by the most since May as a lower-than-forecast advance in consumer prices added to speculation the central bank will place less emphasis on raising policy rates.
The loonie, as the currency is nicknamed for the image of aquatic bird on the C$1 coin, slumped against almost all of its most-traded peers this week. Governor Mark Carney suggested Oct. 15 that the Bank of Canada will abandon its tightening bias at the Oct. 23 policy meeting. Oil fell as forecasts from bellwether companies signaled slowing economic growth.