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Canada Bears Triple Bets as BOC Says Loonie a Threat

The Canadian dollar’s 22 percent surge against the U.S. currency has become such a threat to the economy that central bankers and chief financial officers are encouraging the loonie to weaken.

“One of the risks to the Canadian economy is persistent strength to the Canadian dollar,” Bank of Canada Governor Mark Carney, 45, said in a Bloomberg Television interview at the World Economic Forum’s annual meeting in Davos, Switzerland, on Jan. 28. “We have a competitiveness problem in Canada.”