Quote:
Originally posted by Paraskass
it will kill any industry.
They are letting it go now because people like it. Because they think they have more money and can take trips to the US and shit, and it's true...
but you'll see the government play with the interest rates soon and make it drop.
to be competitive, the Canadian dollar should be worth about 0.65$ US.
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They can't play with interest rates too much to make the dollar drop. If they lower the interest rate in an atempt to be closer to the rate in the USA, we'll see inflation.
The country's economy is in EXCELLENT shape, and even with a stronger dollar we still manage surpluses.
A few businesses will be hit, of course, but overall, we won't be affected as much as we think.
We export oil, so the higher the price of oil, the stronger the dollar will be.
The CAD will reach 85 cents by the end of THIS year, and will be at par with the USD by the end of NEXT year, whether we like it or not.
We have the strongest economic growth in the G7, even if our dollar have been WAY OVER 65cents for over a year.