Posted AT 5:59 AM EST on 30/05/07
High-flying economy catches bank off guard
The Bank of Canada has issued a stark warning that interest rates may rise as the era of benign inflation ends, a statement that sent the loonie rocketing past the 93-cent (U.S.) mark for the first time in nearly three decades yesterday.
It's been a remarkable ride for the Canadian economy in recent months, one that's taken virtually everyone by surprise. The unemployment rate is at a 33-year low as a record number of Canadians have jobs.
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