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FX Update, Wednesday March 4th

Posted March 04, 2015

The Canadian Dollar has improved slightly after this morning's Bank of Canada interest rate announcement. The BoC kept the overnight lending rate steady at 0.75%. The Bank also made mention that inflation levels are lower but that this is mostly due to lowered oil prices and that oil prices are currently close to what they were expecting. They also spoke to the lower Canadian Dollar and recent interest rate cut helping to mitigate the effects of the fall in the price of oil and helping to boost non-energy exports. For an up the second market rate do not hesitate to contact me.