Stocks in play: Alaska Energy Metals Corp

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Reuters

C$ hits 12-day low as businesses see price growth easing

The Canadian dollar weakened to a 12-day low against its U.S. counterpart on Monday as a Bank of Canada business survey pointed to a decline in inflation, raising bets the central bank will cut interest rates further this month. Canadian “businesses expect the growth of their input prices and selling prices to slow, suggesting that inflation will continue to decline over the coming year,” the Bank of Canada said in its second-quarter Business Outlook Survey. “This expected easing in inflationary pressures will be good news for the Bank of Canada as policymakers decide whether to cut interest rates again this month,” Andrew Grantham, a senior economist at CIBC Capital Markets, said in a note.

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