Bank of Canada Governor Carney makes the rare admission that Canadian monetary policy is basically out of domestic hands. The net impact of international forces on the domestic economy will determine future monetary policy moves. He says Canada is at a turning point in the cycle but that there is a great deal of uncertainty. Poor productivity growth in Canada contrasts unfavorably with the situation in the US, he adds, in a Reuters interview.
USD/CAD trades much higher today, up at 1.0383.
