(Bloomberg) -- The Canadian dollar rebounded from a
three-week low after a government report showed May inflation in
line with economists' forecasts.
The consumer price report boosted speculation that the Bank
of Canada will raise borrowing costs as soon as next month. The
central bank has said it may raise interest rates ``in the near
term'' should the inflation remain above policy makers' 2
percent target.
Read more at Bloomberg Currencies News
three-week low after a government report showed May inflation in
line with economists' forecasts.
The consumer price report boosted speculation that the Bank
of Canada will raise borrowing costs as soon as next month. The
central bank has said it may raise interest rates ``in the near
term'' should the inflation remain above policy makers' 2
percent target.
Read more at Bloomberg Currencies News
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