HiFX: Foreign Exchange Specialists

• Headlines

June 20, 2008

Bank of Canada Governor Mark Carney was on the news wires yesterday speaking on the roll of monetary policy during a commodity boom.  During his speech, Carney stated that the June 10th decision to leave the overnight rate unchanged at 3% came in light of an unexpected rise in commodity and oil prices.  He also suggested that the central bank expects a strong Canadian dollar to help stave off inflationary pressures.  Following Carney’s comments the Canadian dollar ticked up nearly 0.6% against the U.S. dollar.