Don't blame Canada's export woes on strong Canadian dollar: BoC chief

August 23, 2012

The following is excerpted from the 22 August 2012 edition of Reuters Canada.

Canada cannot devalue its way to prosperity or blame weak exports solely on the strong Canadian dollar, the head of the Bank of Canada said on Wednesday.

Speaking to an auto union that blames the strong dollar for higher costs for car makers, Governor Mark Carney noted that Canada's export performance over the last decade has been the second worst in the G20 grouping of major and emerging nations.

This article is available in its entirety at:
http://ca.reuters.com/article/domesticNews/idCABRE87L0L920120822

Topic(s)

Exports

Information source

Canadian News Channel

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