Canada Dollar Little Changed as Carney Says Global Economy Slows

Canada’s dollar was little changed versus its U.S. counterpart, erasing gains after Bank of Canada Governor Mark Carney said he will adjust economic forecasts to reflect a slowing global recovery, fueling speculation that he won’t raise interest rates in the short term.

The central bank’s revised forecast next week “will take into account the impact of the uncertainty,” Carney said in the text of a speech that he gave in Nanaimo, British Columbia. Canada’s dollar advanced earlier as existing home sales rose 2.5 percent in September from the previous month. U.S. retail sales gained 1.1 percent last month, following a revised 1.2 percent advance the prior month, Commerce Department figures showed in Washington.