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RBC Economics says a weaker Canadian dollar will not derail the current disinflation trend, since services and imports from outside the U.S. now shape prices more than exchange rates. The loonie was at its softest in almost three years at the time of writing.
The analysis suggests the Bank of Canada may not need to respond to currency weakness with extra rate hikes. This keeps the CAD outlook tied to domestic demand rather than to grain or oilseed trade.
rbc.comShiplu TalukderApr 18, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
