Canadian dollar reaches record highs
NEWS
The Bank of Canada left target interest rates unchanged at 4.25% on Tues- day (May 29), but hinted at upcoming hikes.
Having previously described inflation risks as balanced, the bank pointed to 'increased risk' of inflation continuing above the 2% target. Some increase in the target for the overnight rate may be required in the near term to bring inflation back to the target, Bank of Canada said in a statement.
The Canadian dollar finished at 0.9314 US cents at close on Tuesday, strengthening
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