Economics

Commodities Send Loonie Soaring, Creating Quandary for Canada

Past booms for raw materials aided some regions, hurt others
Bank of Canada says its policies aim for a ‘shared recovery’

Canadian one dollar coins, also known as Loonies, sit in a pile at the Royal Canadian Mint Ltd. manufacturing facility in Winnipeg, Manitoba, Canada, on Monday, March 11, 2019. The Canadian dollar was steady against the greenback amid rising oil prices and mixed versus G-10 currencies as traders awaited domestic home price data Wednesday and a speech by the Bank of Canada's Carolyn Wilkins on Thursday.Photographer: Shannon VanRaes/Bloomberg

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By Theophilos Argitis

May 17, 2021 at 2:19 PM UTC

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The broad rally in raw materials that’s lifted prices for crops, energy and metals is a bonanza for Canada’s economy and a major challenge for the nation’s policy makers, who are under pressure to ensure that everybody benefits.