BoC Governor Tiff Macklem said yesterday that recent rise in commodity prices is “goods news for Canada. But a stronger Canadian Dollar “does create some risk.”
“If it moves a lot further, that could have a material impact on our outlook and it is something we have to take into account in our setting of monetary policy,” he added. Rise in the exchange rate could drag on exports. “If we’re less competitive, our export profile is weaker, that also probably means that our investment profile will be weaker,” he said.
