The Canadian Press

2007-11-07 | BIZ Loonie Record

Preview Clip

There was no slowing down the Canadian dollar in 2007. On November 7th, the loonie soared higher than ever as it traded above a-dollar-ten US. Finance Minister Jim Flaherty said because of the strength of the Canadian dollar, consumers should expect the prices of goods in Canada to be lowered, but not to the same levels as in the United States. (The loonie's highest close in history came on November 6th at 108.52 cents US.)

Date: 2007-11-07
Placeline: TORONTO, Ontario.
Source: The Canadian Press
Length: 26 seconds

Transcript Prediction: << there are some cost of doing business in Canada that are reflected in our prices so consumers shouldn't expect Canadian prices to be exactly the same as us prices but those those variables have not changed what has changed is the increase purchasing power of the Canadian dollar and that increase purchasing power as inventories are consumed should be reflected in reduced consumer prices >>