The Canadian dollar extended its monthly gains, reaching a six-week high of C$1.3955 per U.S. dollar, a 2% increase for the month. Rising energy costs are adding to inflationary pressures and could lead the Bank of Canada to raise interest rates further. The central bank recently increased its policy rate by 25 basis points to 2.5%, citing energy prices as an important factor in inflation risks. Markets now anticipate a possible 25-basis-point increase in December, while upcoming consumer price, employment and oil-market developments could influence the decision.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
