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Loonie’s Rise May Temper Mortgage Rates

Inflation may be influencing rates higher, but the Canadian dollar is at 30-year highs versus the U.S. greenback. That could curtail Canadian exports and lower the odds of further near-term rate increases. At least, that’s what BMO economist Sal Guatieri thinks. He believes “a strong and rising dollar will have a similar effect on the economy as a rate hike,” and suggests the Bank of Canada will not raise interest rates this year.  Vancouver Sun Story