The Canadian dollar is headed downward again.
That’s in part due to slower economic growth in the second half of the year, and also due to monetary policy by the Bank of Canada, which issued a cautionary note last week warning of a pullback from the hot growth in the first half of the year.
The dollar has now dropped well under 78 cents, after trading at 80.22 cents just two weeks ago, losing ground on the underwhelming report from the central bank, along with negative GDP numbers Tuesday morning.
Exporters are still reeling from the higher dollar earlier this year and forecasts are for a continued lag, even as the dollar continues to tumble.
This fall will be a time for fiscal prudence, words the federal Liberals seems to have not yet added to their vernacular.
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