October 1, 2013 / 6:04 PM / in 4 years

C$ strength has been a factor in low rates - Bank of Canada

TORONTO, Oct 1 (Reuters) - The Canadian dollar’s strength is one of the reasons the Bank of Canada has kept interest rates so low for so long, Senior Deputy Governor Tiff Macklem said on Tuesday.

“From a monetary policy perspective, we certainly have been taking into account where the exchange rate is, and that’s an important reason why monetary conditions have remained stimulative,” Macklem told a business audience in Toronto.

“Clearly Canada is in a privileged position: sound fiscal policy, sound monetary framework, we have abundant commodities, commodity prices have been high. Those have all been positives for Canada and those underpin the strength of the exchange rate,” he said, adding that there also has been a boost from time to time from capital flows.

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