Reuters: US Dollar Report: Bank of Canada says strong C$ a drag on economy

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Bank of Canada says strong C$ a drag on economy Sep 25th 2012, 19:29 Sept 25 | Tue Sep 25, 2012 3:29pm EDT Sept 25 (Reuters) - The strong Canadian dollar has been a drag on the Canadian economy for the last few years, but the Bank of Canada has no target for the currency's level, focusing instead on inflation targets, Bank of Canada Deputy Governor Timothy Lane said on Tuesday. "The Canadian dollar is a factor that we look at very closely in relation to the economic outlook for Canada and for the last few years has been at a level that represents a drag on the Canadian economy, particularly with regards to our export performance," he said after a speech in Calgary.

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