17.07.2015 - Bad news for Canada's currency is good news for many
Canadians' overseas spending power has taken a hit, but the plunge in the Canadian dollar after the central bank cut interest rates on Wednesday to try to revive a sputtering economy is being cheered by a wide array of businesses. The tourism sector, along with export-oriented manufacturers and resource companies were among those applauding the Canadian dollar's six-year low on Thursday after the Bank of Canada's 25-basis-point rate cut to 0.5 percent, which was triggered largely by last year's collapse in the price of oil, a major Canadian export...............................................Full Article: Source
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