Posted AT 5:24 PM EST on 25/05/07
Loonie streaks higher
David Dodge has a dilemma on his hands.
On one hand, inflationary pressure has been hotter than the central bank had anticipated, suggesting interest rates should rise. On the other, the Canadian dollar's swift ascent is pummelling Canadian factories, and any rate increase could add fuel to that fire.
The Canadian dollar strengthened to 92.62 cents (U.S.) Friday, it's highest level since Oct. 3, 1977, and has climbed almost 8 per cent this year.
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