Canada's loonie touches strongest since March 18

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Loonie hits its strongest since March 18 at 1.2455 Canada's main stock index increases 0.5% BoC drops pace of bond purchases to C $3 billion per week Canada's annual inflation rate accelerates to 2.2% on April 21 - Toronto stock market rebounded as investors welcomed a move by the Bank of Canada to reduce emergency support for the economy. The loonie strengthened 0.49% per US dollar to 1.2495 or 80.03 dollars Censoes. Canada's main stock index ended 0.5% higher at 19,143.25, holding some of its decline over the past two days back. I think we are seeing positive sentiment towards the Canadian economy coming off the comments from the Bank of Canada today, said Colin Colin CieszynskiCieszynski, chief market strategist at SIA Wealth Management. The Bank of Canada indicated that it could begin to hike interest rates in late 2022, as it sharply reduced its outlook for the Canadian economy and increased the pace of bond purchases to C $3 billion per week from C $4 billion. Last year, the central bank began a large-scale bond buying program to support the economy during the Coronavirus crisis. The withdrawal of stimulus puts Canada's central bank in an agreement with some other major central banks, such as the European Central Bank and the Federal Reserverve, which have said they will maintain or even increase the pace of bond buying. It makes sense that Canada might be one of the first to start scale back. Our economic numbers have been quite positive, Cieszynski said. In March, the Canadian inflation rate doubled to 2.2%, while the average of the Bank of Canada's three core measures was 1.9%, up from 1.8%. The Canadian dollar, which has touched its strongest intraday price since March 18 at 1.2455, was able to rally despite pressure on the price of oil, one of Canada's main exports. The US crude oil futures settled 2.1% lower at $61.35 a barrel amid concerns that the surging COVID 19 cases in India will lower fuel demand in the third-largest oil importer on the world's list of crude buyers. Nevertheless, the Energy Sector of the Toronto Stock ExchangeToronto Stock Exchange was 1.1% up, while the Materials Group grew by higher prices of gold and silver. Last Friday, the TSX notched a record high at 19,380. 68; Canadian government bond yields were higher across the curve. Since the start of the year, the 2 year rose 2.2 basis points to 0.317%, near the top of its range. What are the ten reasons why people complain about losing their jobs, or if they get too old to work on them?

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