Canadian Finance Minister Jim Flaerti today expressed its concern at the rapid change in the value of the Canadian dollar, as well as the need to adopt appropriate measures in this regard. While such rhetoric does not have a significant impact on market sentiment. However, it is clear that such comments by officials of Canada will be heard more and more often, because the Canadian dollar, to the dissatisfaction of the authorities and the exporters, vigorously moving towards parity with the U.S. currency. Comments Flaerti sounded on Tuesday evening, in response to a question from a reporter on whether the magnitude of the strengthening Canadian currency sufficient cause for intervention by the Central Bank. Flaerti prefaced his lengthy response explaining that the intervention falls within the ambit of the Bank of Canada rather than the Ministry of Finance, the Bank of Canada is responsible for monetary policy of the country against the national currency. Subsequently, the press service of the Ministry of Finance explained that Mr. Flaerti does not mean intervention, but only repeated what had already been sounded out of his mouth: "excessive exchange rate does not benefit the economy." The Bank of Canada also officially refuted the idea of a possible intervention. All this suggests that the government has no plans of large-scale action to devalue the Canadian dollar. Bank of Canada abandoned the tactics of intervention in 1998, as a little.
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