The Canadian dollar has been edging up the charts for much of the last month, reaching parity with the USD this morning after closing at just $98.4 last night. The cause for the jump? Commodities prices rose, linked to the strength of our dollar...but the big news is that the Bank of Canada has dropped its conditional commitment to keep interest rates steady until the end of June.
"The central bank became the first Group of Seven country to
signal it will raise interest rates, possibly as early as June
1, as the economy recovers faster than expected. The bank kept
its key rate at its current ultra-low 0.25 percent level."
Canadian Dollar Rises
With the conditional guarantee removed, it's obvious that interest rates will start climbing in short order. What does this mean for the Canadian economy? More on this soon.
Mr. Evdoxiadis,how dare you compare Canada with Greece.I am Greek and live in Canada for the last 48 years,but I have traveled to Greece every two years. But no more.The corruption that exists in Greece is unbilievable.I have seen houses sold 300-400-Euros and they claim half the price,I have seen Lawyers,real estates,Doctors to cheat right in the open.Is not of course only their fault but the middle class as well,instead of complain they go along some of fear and some for gains.
ReplyDeleteYes in Canada are many cheaters as well,but if they get caught they pay.Look at Canadian Health,not perfect but we do not have to give Fakelakia in order to have an operation,we pay high taxes but I had a Breast Cancer,and Brain Tumor operations and cost me nothing.My brother in Greece He had a heart operation and had to give a 7,000 Euro in Fakelaki,and guess who had to help him pay? Us.
I am surprised that you are allow to print such a artical.
If you are a Canadian Citizen,then be proud as we are.Otherwise if you do not like it go back to Greece and see the life there, unless you are one of the cheaters and your pocket is full.
Best regards
a Canadian Citizen